In a move that would help it consolidate its position in the growing product engineering services (PES) space, Mindtree, the IT and R&D services company, has signed an agreement with Kyocera Wireless Corp (KWC) to acquire its Indian subsidiary, Kyocera Wireless (India).
The acquisition involves an upfront payment of about $6 million (about Rs 29 crore), other than payments linked to the revenues to be acquired from Kyocera during 2010-11 and 2011-12. MindTree expects this acquisition to contribute about $9 million in revenues for the period October 2009 to March 2010, with profit after tax in the range of 13-15 per cent.
California-headquartered KWC is a global producer of mobile handsets and wireless products, and is part of the $11.5 billion Kyocera Corporation. Established in 2003, Kyocera Wireless (India) employs about 600 people in India, with its development centre located in Bangalore.
Friday, October 2, 2009
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment