Wipro is eyeing on IT firms servicing oil, telecom and healthcare industries for takeover/buying opportunities.
MUMBAI: After buying Citi Technology Services (Citos), Wipro is now scouting for IT firms servicing oil, telecom and healthcare industries. The move seems to be driven by the company’s desire to cushion against slowdown. Healthcare spends are relatively recession-proof and the IT exporter is looking at expanding its footprint in this industry as well as in life sciences in the area of drug discovery, where use of IT can help reduce time to market drugs. The company also continues to look for opportunities in consulting and in western Europe, although the relatively low growth rates and profitability of these firms make acquisitions less attractive, said KR Lakshminarayana, chief strategy officer for IT businesses.
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