Wipro Buys Swedish Firm

It pays $31 million.
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Wipro

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bought Hydrauto Group for $31 million in cash. The transaction is expected to close by the third quarter.

Sweden based Hydrauto is a leading provider of hydraulic components and solutions in Europe.

"This acquisition gives WIN a unique Asia-Europe footprint, a customer base built over the past few decades and deep complementary engineering skills. Being together will have a multiplier effect on competitiveness," Wipro Infrastructure Engineering said.

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