Indian software services provider Wipro Ltd. (WIT) agreed to acquire a Singapore-based consumer goods company LD Waxsons for about $144 million in cash, according to the several media reports. The acquisition is expected to be closed within 60 days.
In early November, Wipro had said that it decided to spin off its non-IT related businesses into a separate unlisted company, Wipro Enterprises Limited. Wipro's board had approved the demerger of the Wipro Consumer Care & Lighting, Wipro Infrastructure Engineering and Medical Diagnostic Product & Services business into a separate company.
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