Wipro Infrastructure Engineering acquires Sweden-based Hydrauto Group AB
Facebook Twitter google+ RSS Feed

Wipro Infrastructure Engineering acquires Sweden-based Hydrauto Group AB

By SiliconIndia   |   Thursday, 28 September 2006, 07:00 Hrs
Printer Print Email Email
Bangalore: Wipro announced today that it signed an agreement to acquire 100% equity of Hydrauto Group AB, for a consideration of US$ 31 million, in an all cash deal.

Wipro Infrastructure Engineering (WIN) is the leading player in precision engineered Hydraulic components and solutions in India. Hydrauto, based in Sweden, is a leading provider of Hydraulic components and solutions in Europe. Its components are a global US$ 17 billion industry catering to the Construction equipment, Material Handling , Farm and Industrial segments.

Speaking on this occasion, Anurag Behar, Managing Director, WIN, said, “This acquisition gives WIN a unique Asia-Europe footprint, a customer base built over the past few decades and deep complementary engineering skills. Being together will have a multiplier effect on competitiveness.”

Olov Larsson, CEO of Hydrauto commented “The Hydrauto team looks forward to becoming a part of the Wipro family. We think that Wipro is a perfect fit, being leaders in Asia and having an established presence in the Asia-Pacific region.

Subject to customary closing conditions and regulatory approvals, the acquisition is expected to be completed by the third quarter of 2006-2007.

Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset