The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Wipro announced an agreement to acquire Saraware Oy, a Finnish telecom design and engineering services company, in June 2006. Contemporary reports put the consideration at €25 million—about $32 million—with upfront cash, debt takeover and potential earn-outs. Wipro said Saraware would give it a local Finnish base, near-shore engineering capacity and specialist mobile-network expertise.
What company did Wipro acquire?
The target was Saraware Oy, a Finland-based provider of design and engineering services to telecom companies. At the time of the deal, Business Standard reported that Saraware had around 200 employees and €15 million in turnover in the preceding calendar year. Those are historical figures reported in 2006, not current company statistics.
What was the reported price and deal structure?
Contemporary outlets reported differently rounded values for the transaction. Business Standard put the consideration at €25 million; RCR Wireless News reported about $31.7 million; and EDN reported Rs.144.35 crore, or about $32 million. The figures are reported deal values in different currencies, not separate independently audited valuations.
- Business Standard, first published June 8, 2006, described €25 million in consideration, including upfront cash and debt takeover, with possible earn-outs.
- RCR Wireless News, June 9, 2006, reported a value of about $31.7 million and earn-outs based on financial conditions over 18 months.
- EDN, June 12, 2006, reported Rs.144.35 crore, about $32 million, and said closing was expected the following month, subject to customary conditions and regulatory approvals.
Why did Wipro want Saraware?
Wipro presented the acquisition as a way to establish a local presence in Finland and a near-shore engineering center in the Nordic region. Saraware’s reported capabilities included radio networks, secure mobile platforms, base-station controllers and mobile communication platforms.
#1 Best Overall
Ramesh Emani, then Wipro president of product engineering services, said the company needed near-shore development centers as it pursued more complex, end-to-end customer engagements. He also cited Saraware’s skills in base-station controllers and mobile communication platforms. This was Wipro’s stated rationale at the time, not evidence by itself of the acquisition’s later business results.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Was the acquisition completed, and when?
Contemporary coverage is not consistent in how it describes the transaction’s status. EDN said Wipro had signed an agreement and expected closing the next month, while RCR Wireless News and The Times of India used wording that described Wipro as having acquired or snapped up Saraware. The Times of India report from June 9, 2006 is one example of the completed-acquisition phrasing.
Rank #2
The available reports establish the June 2006 announcement and agreement, but not an exact legal closing date. It is therefore more precise to say Wipro announced or agreed to acquire Saraware, while noting that some reports described the acquisition as completed.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
Do these 3 things before closing this tab:
1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitches
