Wipro to expand in China

By agencies   |   Friday, 11 August 2006, 19:30 IST
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BANGALORE: Looking at actively expanding its foreign business, IndiaÂ’s third largest IT services company Wipro wants to expand in China and acquire more companies. The Chief Financial Officer of Wipro, Suresh Senapaty said so far all their deals have been small and in the range of between $20-50 million. Now Wipro is looking at acquiring companies in higher range. Like most other Indian companies, Wipro derives more than half of its profits from the U.S. but now the European business, which accounts for 24 percent, is growing faster than the U.S. He said the company expects to break into some closed European markets very soon which in turn will contribute more to its profits.

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