Wipro Infotech acquires 3D Networks

Wipro Infotech, the India, Middle East and Asia Pacific IT Business Unit of
Wipro Ltd, announced that it has signed an agreement to acquire India, Middle
East and SAARC operations of 3D Networks and planet PSG in an all cash deal. The
consideration includes an upfront cash payment of approximately $23 million on
closure of the transaction and additional performance linked payments based on
achieving agreed financial targets over a two-year period.

3D Networks, a Platinum partner of Nortel Net­works, provides business
communication solutions that include consulting, voice, data and converged
solutions, and managed services. The comp­any's specialized solutions are
deployed in ITeS/IT, telecom, banking and finance, government and service
verticals.

Suresh Vaswani, President, Wipro Infotech and President, Global IT Service Lines

In India, 3D Networks has a dominant presence in providing business
communi­­cation solu­tions to ITeS/IT segments and has approximately 270
employees serving several marquee custo­mers. During FY 2005-06, the company
clocked revenues of approximately $36 million, a growth of 39 percent YoY. A
profitable entity, it commenced India operations in 2001.

Planet PSG is the sole Global Nortel Technical Services partner on
Periphonics platform in APAC region and provides professional services on voice
and speech platforms in the region.

Suresh Vaswani, President, Wipro Infotech and President-Global IT Service
Lines, Wipro Technologies said, “India's emergence as the out­sourcing hub
for global majors is fuelling demand for convergence solutions. 3D networks
strong integration skills in convergence technologies, customer base and proven
track record complements and enhances our existing comprehensive IT solutions
and services. Customers will immensely benefit from our broad suite of offerings
in converged space. Our acquisition strategy here was to add new practice
competencies and enhance our broad suite of service and solutions portfolio.”