Bangalore-based IT major Wipro has entered into a definitive agreement with Oki Electric Industry, singapore to acquire Oki Techno Centre-Singapore (OTCS).Wipro is acquiring OTCS through its arm Wipro Technologies in an all cash deal spread over a period of one year and is to acquire Oki Techno Centre's Intellectual Property Rights aswell. The company will also establish a dedicated development centre for OKI.OTCS is based in Singapore and is a wholly owned subsidiary of OKI focused on wireless design and has demonstrated innovative capabilities in RF (Radio Frequency) and baseband design. OTCS is a 40 member center with SGD 8.8 M as the revenues of the fiscal year ended March 31, 2007. The company has key customers in Japan in product engineering space.The development center set up by Wipro will enable OKI to utilise design resource efficiently and enhance product development capabilities. This will enable OKI to expand its semiconductor business and increase its competitive edge in designing semiconductor products in the global market.
