Wipro acquires Citi group

India’s third largest IT solutions provider Wipro Technologies has announced that it has acquired the Citigroup infotech.It also said that there is contract for $500 million for the project for Citigroup for next five years.The experts say that this is a good move by both the companies since the stocks of Citigroup is losing ,this deal would increase its liquidity.Moreover because of global exposure, Wipro would get more projects from other global banking sectors.All the revenues are expected to be in hand by March 2009.Wipro has found a new way to increase its revenue and the company is in safe position amidst this crisis.It also been said that,since world bank has banned the satyam computer from services,the project could be transferred to Wipro.Yes,there are more chances to win this,since recently Wipro has won the second prize for creating the best software.Wipro is on a sing and it is nice move after losing the projects with Lehmann Brothers.


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