Wipro's Fool's Day Acquisition Of SAIC's Oil & Gas IT Business - The Energy Pill Wipro Needed?

4 Apr 2011
by Jimit Arora


Market Vista


On April 1, 2011, Wipro announced that the acquisition of SAIC's Oil & Gas IT services business for a consideration of US$150 million. The acquisition that comes in less than two months after Wipro announced T.K. Kurien's appointment as the new CEO, enhances Wipro's position of strength in the energy vertical, and further widens the gap between Wipro and the other Tier-1 offshore majors in the oil & gas space. Overall, we believe that the acquisition not only augments Wipro's position in the energy vertical but also provides positive indicators of recovery for the firm in 2011.

This Market Vista Breaking Viewpoint summarizes Everest's perspectives on the acquisition and highlights three key reasons for giving the announcement a "thumbs-up".

The full viewpoint is complimentary for Market Vista subscribers and is also available for purchase. Market Vista subscribers: to access the full four-page viewpoint, please log in and click the download button in the upper right-hand corner of the page.  

For more information on Market Vista, please CLICK HERE.


Page Count: 4