Wipro Technologies is acquiring the global oil and gas technology business of Science Applications International (SAIC). The global IT business of India’s Wipro will pay around $150 million in cash for the acquisition. As a part of the agreement, around 1,450 employees of SAIC are expected to join Wipro across North America, Europe, India and Middle East. The deal is subject to customary closing conditions and regulatory approvals. The acquisition of SAIC’s Global Oil & Gas Information Technology practice will boost Wipro’s existing energy business unit.
Click here for the release from Wipro.