Wipro Technologies, in IT Services, announced that it has signed an agreement to acquire US based Quantech Global Services LLC and the India based Quantech Global Services Ltd, both in computer aided design and engineering services.
The agreement includes upfront cash payment on closure of the transaction as well as earns outs on achieving agreed financial targets over a three year period. Wipro gains over 500 domain specialists through this acquisition, strengthening its ability to provide competence in mechanical engineering design and analysis services.
Dr AL Rao, COO of Wipro Technologies, said, "Our customers are increasingly looking at us to provide them complete product engineering services. Quantech's key strength in mechanical design services complements Wipro's core strength of embedded software and system design capabilities and helps us strengthen our position as an original design engineering solutions provider."
Dr. Mukesh Gandhi, chief executive of Quantech, stated, “We are excited about expanding Quantech's offerings in engineering services into Wipro's customer base. Coupled with Wipro's leadership in product engineering solutions in the embedded and telecom domain, we are confident that the new combined entity is well positioned to be the leader in the mechanical design and analysis space.”
Mr. Sudip Nandy, CSO of Wipro Technologies, commented, "The system expertise that Quantech has built both, in USA as well as offshore in India will enable us to attain a leadership position in the automotive and the aerospace sectors."
Wipro Technologies
