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India's Wipro to acquire Oki Electric's subsidiary

Wipro Ltd , India's third-biggest software exporter, said on Friday it was acquiring the wireless design subsidiary of Oki Electric Industry Co Ltd  to help it expand in Japan and east Asia.

Wipro will also set up a dedicated development center for Oki, with which it had signed a strategic partnership agreement in the area of design services for the semiconductor market, the Indian company said in a statement.

“As part of this partnership, Wipro has signed a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), including its own intellectual property rights in an all-cash deal over a period of one year,” it said.

Wipro did not disclose the cost of acquiring OTCS, a wholly owned subsidiary of Oki.

“The acquisition also provides a solid base for addressing the large market in Japan and east Asia,” said Ramesh Emani, head of Wipro's telecom and product engineering solutions division.( Reuters)

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