Software firm Wipro has announced that it has agreed to acquire U.S. based Quantech Global Services LLC and the India based based Quantech Global Services Ltd. in an all cash deal. Wipro said the deal would strengthen its product engineering portfolio.
The deal value has not been disclosed, but would include an upfront cash payment on closure of the transaction as well as earn-outs on achieving agreed financial targets over a three year period. The transaction is expected to be closed during the next one month.
Quantech provides Computer Aided Design and Engineering services to the automotive, aerospace and consumer goods industries.
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