New Delhi: IT giant Wipro has entered into a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), a wholly-owned subsidiary of OKI Electric Industry Co Ltd.
"Wipro has signed a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd, including its intellectual Property Rights in an all cash deal over a period of one year," a company statement said.
Although the company did not mention the financial details of the deal, sources said it has acquired OTCS for USD 2-3 million.
OTCS is a 40 member centre and has customers in Japan in product engineering space.
"Wipro sees this acquisition as a strategic fitment in building niche competencies which would enhance our presence among our technology companies in Japan," company's Chief Strategy Officer Sudip Nandy said.
As part of the acquisition, it would establish a dedicated Development Centre for Oki which would enable the latter to utilise design resource efficiently and enhance product development capabilities, the statement said.
"We have been looking for a global partner to improve our efficiency in semiconductor design through outsourcing , as we focus on improving our core designing capabilities," President of Silicon Solutions Company at Oki Electric Industry Masahiko Morioka said in the statement.
OTCS primarily focuses on wireless design and has expertise in Radio Frequency and baseband design.
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