Wipro Technologies, global IT services business of Wipro Limited, announced, on Monday, that it has acquired US-based Infocrossing Inc. Infocrossing is a provider of IT infrastructure management, enterprise application and business process outsourcing services.

In an all cash deal, Wipro will pay at the rate of $18.70 per share for acquiring Infocrossing. The enterprise value for acquisition, thus, works out to about $600 million. The deal is expected to close by fourth quarter of December 2007.  “The acquisition will leverage Wipro’s offerings in healthcare, BPO and IT infrastructure services,” said Chief Financial Officer Suresh Senapathy. “This will give us a leadership positions in end-to-end IT infrastructure management solutions. Through Infocrossing we are deepening our presence in the US with addition of five state-of-the-art data centre locations and approximately nine hundred employees,” he observed.

Ninth acquisition
Incidentaly, takeover of Infocrossing is ninth acquisition by Wipro Tech in the IT space in last 24 months, Wipro Technologies Enterprise Solutions President Sudip Banerjeesaid. The acquisition of Infocrossing is the largest among them, he added. Infocrossing, which currently has 200 clients, provides full portfolio of infrastructure management solutions, including server management, mainframe outsourcing, network management and security services. For twelve months ended March 31, 2007, it’s revenue was $232.4 million and net income $9.3 million.

The global IT infrastructure market has been projected to be $150 billion and global market opportunity for remote infrastructure management services is forecast to reach $70 billion, according to Nasscom.