Business Daily from THE HINDU group of publications
Wednesday, Apr 22, 2009
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Business Daily from THE HINDU group of publications Wednesday, Apr 22, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Telecommunications Info-Tech - Convergence Corporate - Mergers & Acquisitions
Our Bureau Bangalore April 21 Wipro Technologies, the global IT arm of Wipro Ltd, has acquired the Mobile Broadcast Solutions unit of cellular handset maker Nokia for an undisclosed sum. The 40-employee enterprise mobile TV unit develops software and hardware that enables mobile TV technology on the phone to find and access the broadcasting network. Wipro officials did not comment on the buyout citing silent period ahead of the company’s annual results on Wednesday. However, Reuters quoted company spokesman from Helsinki saying “We wanted to focus on the consumer side of things, the mobile TV client in the devices, rather than on the business-to-business side.” The Nokia Mobile Broadcast Solution is basically a DVB-H (digital video broadcast – handheld) server platform for offering commercial mobile TV services. Nokia had clients such as KPN, a mobile TV service provider in Europe, and MiTV Corporation Sdn Bhd in Malaysia for its broadcast solution. The buyout of mobile TV unit is the second such acquisition of Nokia’s assets by Wipro in recent years. Nokia is one of the key customers of Wipro. Two years ago Wipro had acquired the Berlin-based, 58-engineer R&D unit of Nokia Siemens Networks that focussed on radio access technologies. Wipro shares ended flat at Rs 274.25 on the BSE on Tuesday, while the BSE IT index shed 1.6 percentage points to end at 2420.98. Wipro posts 18% rise in Q3 net; March quarter guidance cut Wipro buys Citi’s captive IT unit Wipro has $700 m debt; to conserve cash for growth More Stories on : Telecommunications | Convergence | Mergers & Acquisitions | Wipro Ltd
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