Indian outsourcing company Wipro is targeting the global retail
sector with the €41 million (US$52.2 million) acquisition of Portuguese IT company Enabler.
Enabler was spun out of the internal IT department of Portugal's
leading retail company Modelo Continente in 1997 and now provides retail
consulting and integration services, mainly around Oracle products.
The company has more than 300 staff and customers in Brazil,
France, Germany, Italy, the Middle East, Spain and the UK and had revenues of
€30 million (US$38.4 million) last year.
Sudip Nandy, chief strategy officer at Wipro, said the acquisition
further expands the Indian company's geographic footprint and is part of a plan
to build up expertise in different vertical industry sectors.
The acquisition is expected to be completed within a month.
Just last month a market report said the number of overseas
acquisitions made by Indian IT companies has risen sharply in the last four years and is set to increase further over the next
But there is also a trend for the acquisition of Indian companies
by western companies, as witnessed by EDS' US$380 million
offer for a majority stake in Bangalore-based business process outsourcing
outfit Mphasis earlier this year.
Andy McCue of Silicon.com reported from London.