Mumbai, Oct. 26: Wipro Infotech, the India, West Asian and Asia Pacific IT business unit of Wipro, today announced the acquisition of the Indian, West Asian and Saarc operations of 3D Networks and Planet PSG in an all-cash deal.

“The consideration includes an upfront cash payment of approximately $23 million (Rs 105 crore) on closure of the transaction and additional performance linked payments based on achieving agreed financial targets over a two-year period,” the company said in a statement to the Bombay Stock Exchange today.

Commencing its operations in India in 2001, 3D Networks offers business communication solutions to the ITeS and the IT segments and has close to 270 employees. During the financial year 2005-06, the company clocked revenues of approximately $36 million, and recorded a growth of 39 per cent year-on-year.

3D network is the India, West Asian and Saarc division of the Planet PSG company. It is a significant player in the voice market.

Speaking to The Telegraph, Suresh Vaswani, president, Wipro Infotech and president (global IT service lines), Wipro Technologies, said: “3D Network is a very strong player in the voice space in the domestic market. It is a dominant player in the voice, data, multimedia convergence space and since Wipro is a strong player in the IT solution space, this acquisition is like a marriage made in heaven.”