Wipro, India's third-ranked outsourcer, said on Tuesday it had agreed to buy Citi Technology Services Ltd for $127 million in cash and would sign a six-year service agreement worth at least $500 million. The deal done through Wipro Technologies, the information technology arm of the New York-listed Wipro, is expected to close in March 2009, Wipro said in a statement. Citi Technology Services is the India-based captive technology services unit of Citigroup.
