Kyocera Corp. (KYO) announced that it has entered into a share transfer agreement with MindTree Ltd. for Kyocera's Bangalore, India-based engineering group company, Kyocera Wireless (India) Pvt. Ltd or KWI. KWI is a subsidiary of Kyocera Wireless Corp., headquartered in San Diego, Calif., and is engaged in software development for Kyocera-branded wireless phones for the U.S. market, as well as other research and development activities. MindTree is a IT solutions and software provider in India.
Kyocera said that the sale of KWI further improves its cost structure while adding flexibility to its engineering efforts. As far as software development is concerned, Kyocera will share its engineering platform among the group by centralizing core technologies in Japan and efficiently outsourcing peripheral technologies as appropriate. MindTree will become a strategic vendor for Kyocera, providing engineering resources on a cost-effective, as-needed basis. All of KWI's about 600 regular employees will be transferred to MindTree.
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