Monday, June 16, 2008
Wipro buys Motorola stake in JV WMNetServ
Wipro Technologies, the global IT arm of Wipro Ltd, has acquired the
stake held by its joint venture partner Motorola in WMNetServ for an
undisclosed sum.
Wipro and Motorola had formed the joint venture firm, WMNetServ, in
2006 with Wipro holding the majority stake. The stake held by Wipro
was also not disclosed.
When contacted a Wipro spokesperson confirmed the development.
"Wipro and Motorola will continue to work closely in the engineering
space. We have altered the equity arrangement in the partnership by
buying out Motorola stake as both we and Motorola did not see any
value add," Wipro Technologies President (Technology, Communications &
Media) Sudip Nandy said.
WMNetServ delivers network engineering services to equipment vendors
and wireless operators on a global basis. It has a framework for
remote delivery of network services like network planning and design,
network optimisation and others
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