Wipro, IT behemoth, has tied up with BAE Systems for commercial aerospace projects that may run into several billion of dollars with margins on the higher side. Wipro is pursuing multi million-dollar order from world''s largest missile manufacturer Raytheon and the order size could be as large as $800 -900 million spread over few years.
The company is believed to counter its slowing business momentum by chasing big defense equipment manufacturers for large orders. Raytheon is depending on Lockheed and Boeing who are bidding for multi-billion dollar orders for Indian aerospace and they will in turn subcontract orders to Raytheon. The opportunity has sent the Wipro top boss to think of an acquisition. Sources said that Wipro is look at a buyout worth $90-100 million in aerospace domain. When the traditional markets are proving to be tough and the currency is playing truant, Wipro is turning aggressive to tap a segment, which promises to be strategic.
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