Wipro Limited (NYSE:WIT), today announced that it has signed a definitive agreement to acquire cMango Inc., a Sunnyvale, California, US-headquartered company in an all cash deal. cMango has multiple offices in the US as well as offices in the UK, Singapore and a Delivery center in Pune, India. Under the terms of the agreement, the consideration to acquire 100% stake in privately held cMango includes cash payment of $20 Mn on closure of the transaction as well as earn-outs based on achieving targeted financial metrics over a two year period. cMango, a company focused on Business Service Management (BSM) Solutions, has annualized revenue of around $13 Mn. cMango will be part of the Technology Infrastructure Services (TIS) Service-line of Wipro Technologies, a leader in remote infrastructure services. Wipro Technologies is the Global IT division of Wipro Ltd.

cMango creates business solutions for customers using the right combination of People, Process and Technology. cMango's services comprise business transformation, ITIL consulting, service management solution architecture, implementation, training and support services. cMango leverages the industry's top BSM solutions from BMC® Software Inc. (NYSE:BMC) such as BMC Remedy, BMC Marimba and other complementary technologies.

In addition to being a BSM Certified Partner, cMango is a BMC Value Added Reseller, Systems Integrator and Technical Support and Training Partner for BMC. cMango is also a BMC Managed Services Partner.

Commenting on the transaction, Pravin Jain, CEO, cMango said, "The cMango team is delighted to join the Wipro family. This partnership brings together the specialized expertise of cMango in BMC's BSM solutions and Wipro's wide range of services and extended global reach. We are confident that this winning combination can significantly expand the market addressed and provide superior customer solutions, emerging as the leader in the BSM space."

The acquisition is in line with Wipro's strategy to invest in areas where it can establish leadership through differentiated service lines and domain knowledge. Wipro is the leader amongst offshore Infrastructure Management Services players and has a track record of rapid growth in its Technology Infrastructure Services business (last quarter growth rate was 45% Year on Year and 16% sequential), and expects this acquisition to help scale growth in this area.

"Business Service Management implementations are accelerating globally as IT and business leaders recognize the competitive advantages BSM delivers by empowering companies to manage their IT infrastructure from a business perspective," said Bob Beauchamp, President and CEO, BMC Software. "The union of cMango's proven BSM implementation capabilities and Wipro's reach will deliver significant benefits to companies moving to a BSM model."

Through this acquisition, Wipro Technologies adds a 120-member strong team and deep domain expertise in BSM, which enables IT to deliver faster, more comprehensive and consistent business services, while increasing revenue opportunities and reducing service cost and business risk.

"Technology Infrastructure Services is a differentiated service line wherein we constantly innovate in enhancing service offerings and transforming the service delivery paradigm in our quest for delivering superior customer value. The acquisition of cMango furthers our relationship with BMC, the leading provider of BSM solutions, and strengthens our capability in this arena that focuses on business criticality. Wipro's offerings in the Infrastructure Management space combined with the consulting edge of the BSM layer will offer a compelling value proposition for our customers and propel significant growth" said Suresh Vaswani, President, Global IT Service Lines, Wipro Technologies.

Commenting on the acquisition, Sudip Nandy, Wipro's Chief Strategy Officer said, "This acquisition is a significant milestone in our strategy towards creating a strong value proposition in emerging areas in a growth business like Technology Infrastructure Services. We see significant value from the cMango team through their potent consulting skills, breadth of service portfolio and domain depth".

The closing of the transaction is subject to customary closing conditions and regulatory approvals, which are expected to be concluded by April 2006.

For further information on cMango : visit www.cMango.com

About Wipro Limited
Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. Wipro provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations.

Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock exchange - Mumbai, and the National Stock Exchange. For more information, please visit our website at www.wipro.com, www.wiprocorporate.com, and www.wipro.co.in

Investor Contact: Jatin Dalal, Jatin.dalal@wipro.com, +91 98450 85916

Media Contacts
India: Vinod Harith, Wipro Technologies, +91-98459-44561, vinod.harith@wipro.com
Sunanda Sanganeria, Fortex Group, +91 9811553623, sunanda@fortexgroup.com
US: Harjiv Singh, Fortex Group, + 1 917 623 7793, harjiv@fortexgroup.com
UK: Julia Vockrodt, VP Communications, +44 208 964 0260, julia@vp-pr.com

Forward-looking and cautionary statements
Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, , liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affectour future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. For further information, please visit our websites at www.wipro.com, www.wiprocorporate.com, and www.wipro.co.in