Wipro eyes acquisitions in health space
The company is primarily looking at the continents of North America and continental Europe for these likely buyouts. These acquisitions would largely help Wipro in giving them market access as well as a certain technological edge.
Besides, the company is also interested in collaborations which could also possibly include a joint venture which will provide them with a stronger foothold in the healthcare and life sciences segment.
In an interview with FE, Wipro healthcare and life sciences senior vice-president Sangita Singh said that the $1-billion revenue target was quite aspirational and they expect to reach this figure by 2015-16.
The healthcare and life sciences vertical has a current annual revenue run rate in excess of $600 million and has been outperforming overall growth rates of Wipro. At the end of third quarter of FY13 fiscal, this vertical reported a revenue $155.9 million when compared to $145.6 million in the sequential quarter showing a growth of 7.1% while on a year-on-year basis it was 3.6%.
Singh said that they are very actively looking at acquisitions in this segment for companies with a revenue size of upto $30 million.
“We are interested in small companies which are good tuck-ins and fairly aggressive in our pursuit,” she added.
Wipro’s confidence for higher growth rates from this segment
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