MUMBAI, Dec 9 (Reuters) - Wipro Ltd, India's No.3
software services provider, will acquire L.D. Waxson Group, a
Singapore-based consumer goods company, in an all-cash deal
worth about $144 million, the Indian company said in a
The deal, expected to be completed within 60 days, is valued
at 2.1 times the revenue reported by L.D. Waxson during the
fiscal year 2011-12, according to the statement issued on
L.D. Waxson, which sells skincare and healthcare products in
countries including China, Singapore, Malaysia and Hong Kong,
will be a part of Wipro's stable of consumer care products.
In November, Wipro decided to hive off its non-IT
businesses, including consumer care, medical diagnostics and
infrastructure units, into a new unlisted firm, known as Wipro
Enterprises Ltd, to focus exclusively on information technology.
(Reporting by Aditi Shah; Editing by Paul Tait)