Denying media reports, Wipro India's third largest software exporter has said that it has no plans to acquire the Indian back office of the Australian financial services company ANZ.
ANZ also responded to media reports and said that it has no plans to sell its technology center in India. ANZ, which has run this technology support center in India for 18 years and employs more than 4000 people, told an Australia based publication "ANZ is committed to ownership of its global hubs. They are an important part of our super regional strategy and a source of competitive advantage."
Such deals are beneficial for technology support partners such as Wipro as they tend to improve the scale of their operations & constant client patronage.
Notably in a similar event Citigroup sold its Citi Technology Services to Wipro for USD127 million in 2008.