Wipro eyeing acquisitions in Latin America

by Dave

  Money – DNA

Suresh C Senapaty, chief financial officer (CFO) of Wipro said Wipro was exploring both organic and inorganic routes to extend its footprint in the two markets, which were growing at much faster pace than developed markets like the US and Europe.

β€œThere are possibilities of acquiring companies in Latin America and Africa to tap the growth opportunities there. We are looking at addressing them not just thorough organic route but also inorganically,” he said.

He said currently the company had a small presence in these markets but was looking at intensifying business activities there.
Senapaty said the company had enough cash for buying out firms in the region. Wipro currently has offices in Brazil, Argentina and Mexico in Latin America. In Africa, it is present in South Africa and Egypt. Earlier in the day speaking to the press in New Delhi, the finance head
of Wipro said: β€œThe challenge, when we go to countries in Latin America
and Africa, is to convince them that our standards match that of a
global company.”