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Wipro acquires SoC design firm NewLogic

Posted: 21 Dec 2005     Print Version  Bookmark and Share

Keywords:wipro  acquire  newlogic 

Wipro Technologies, the global IT Services arm of Wipro Ltd has signed a definitive agreement to acquire the Austrian firm NewLogic in an all cash deal. Under the terms of the agreement, Wipro, will pay about Rs.253.94 crores (€47 million) to acquire hundred per cent stake in privately held NewLogic. The consideration includes cash payment on closure of the transaction as well as earn-outs on achieving targeted financial conditions, over a three year period and the estimated 2005 revenues is Rs.75.64 crores (€14 million).

NewLogic is a semiconductor design services company with intellectual property (IP) cores for complex wireless applications like Wireless LAN and Bluetooth. It has a portfolio of semiconductor IPs and components in the wireless applications space, and demonstrated innovative capabilities in the analogue and RF design. These capabilities complement Wipro's own portfolio of IP cores and patents in wireless and wireline technologies areas, positioning the combined entity as the global leader in this space.

NewLogic headquarters

Wipro will gain 120 specialists through this acquisition, strengthening its ability to provide proven semiconductor IP cores and complete system-on-chip solutions with digital, analogue mixed signal and RF design services. The acquisition also provides Wipro with access to 25 patent filings and over 20 customers in the product engineering domain. These customers include Agere, Infineon and Philips.

Wipro will combine its global semiconductor IP portfolio, the analogue/mixed-signal services and the European SoC design services with NewLogic, and create a new business unit under product engineering solutions group.

The entire transaction is expected to be closed during the next one month. The closing of the transaction is subject to customary closing conditions and regulatory approvals.

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