LAWFUEL – The Law Firm Newswire – Davis Polk & Wardwell is advising Credit Suisse Securities (USA) LLC as financial adviser to Infocrossing, Inc. on its announced acquisition by Wipro Technologies. Based in Leonia, New Jersey, Infocrossing is a provider of selective IT infrastructure management, enterprise application and business process outsourcing services. Based in Bangalore, India, Wipro Technologies is the global IT services business of Wipro Limited, a provider of 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.
The companies have signed a definitive agreement for Wipro to acquire Infocrossing for $18.70 per share in an all cash deal that will create one of the world leaders in end-to-end IT infrastructure management solutions. The acquisition will be conducted by means of a tender offer for all of the outstanding shares of Infocrossing, followed by a merger of Infocrossing with a Wipro subsidiary. The tender offer is subject to a number of customary closing conditions, including regulatory approvals, and is expected to close by the fourth quarter of 2007.
The Davis Polk corporate team includes partner William L. Taylor and associate Andrew J. Chen, both of the New York office.