Wipro acquires Hydrauto for $31 m

Bangalore, Sept 28 | Updated: Sep 29 2006, 05:30am hrs
Wipro Infrastructure Engineering (WIN) will acquire 100% equity in Swedish hydraulic components and solutions company Hydrauto Group AB, in an all cash deal of $31 million. WIN managing director Anurag Behar said that the acquisition gave WIN "a unique Asia-Europe footprint, a customer base built over the past few decades and deep complementary engineering skills".

Q3 FY 2007 will complete the acquisition subject to customary closing conditions and regulatory approvals, Wipro said.