Wipro To Acquire Nasdaq Listed Infocrossing

In a deal pegged at $600 million information technology major Wipro Technologies announced acquisition of US-based IT infrastructure management company Infocrossing. The acquisition would be conducted through tender offer for outstanding shares of Infocrossing followed by a merger of Infocrossing with a Wipro subsidiary.For the twelve months ended March 31, 2007, Infocrossing posted revenues of $232.4 million and net income of $9.3 million. The acquisition is expected to be completed by third quarter. Infocrossing Inc is a Nasdaq listed IT infrastructure, enterprise application and business process outsourcing company. It has five data centres in the United States with 900 employees.