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India's third-largest software services exporter Wipro Technologies is in talks to acquire Nasdaq-listed technology services company Infocrossing Inc., CNBC-TV18 television channel reported on Friday. The deal could be anywhere between $450 million and $500 million. Business Standard adds that the company's enterprise value is around $492 million and its enterprise value/revenue is 2.12 times of its $232.44 million.

Wipro chairman Azim Premji (right) had recently said that his company was looking for acquisitions in Germany and Canada. "We are looking at taking the inorganic route to expand in Germany and Canada. Germany is an emerging market and in Canada we are a late entrant," Premji had said while announcing the Q1 results for the current financial year.

If Infcrossing deal happens, that will be Wipro's largest acquisition yet. The group company Wipro Consumer Care had recently bought Malaysia's FMCG company Unza Holdings for $246 million. In the IT space, Wipro's largest acquisition in the IT space was Austria's New Logic for $56 million in December 2005.

Acquisitions have started contributing to revenues in a big way. Last year Wipro's buys accounted for Rs 501 crore ($125 million) to Wipro's topline of Rs 15,000 crore ($3.75 billion), as against just Rs 50 crore ($12 million) in 2005-06. Wipro is the most aggressive company on the M&A front with some Rs 3,200 crore ($800 million) dedicated for this alone.

Wipro's Past Acquisitions