Wipro Buys Infocrossing

BANGALORE, India and LEONIA, N.J. -- Wipro Technologies, the global IT servicesbusiness of Wipro Limited (NYSE:WIT), and Infocrossing, Inc. (NASDAQ: IFOX), a US-based provider of ITinfrastructure management, enterprise application and business process outsourcing services, today announced that thecompanies have signed a definitive agreement for Wipro to acquire Infocrossing for $18.70 per share in an all cash dealthat will create one of the world leaders in end-to-end IT infrastructure management solutions. The acquisition will beconducted by means of a tender offer for all of the outstanding shares of Infocrossing, followed by a merger ofInfocrossing 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.

“Wipro Technologies has identified global infrastructure services as an important driver of growth for the company andis pleased to add Infocrossing, which provides integrated managed infrastructure services to premier global clients,”said Suresh Vaswani, President, Global IT Service-lines, of Wipro.

“Total Outsourcing Services, which include our ITinfrastructure services, grew 75% in the past year proving global clients are increasingly realizing the value of theseservices. This acquisition of an acknowledged industry leader broadens the data center and mainframe capabilities ofWipro Technologies to uniquely position us in the remote infrastructure management space. Through Infocrossing weare deepening our presence in the United States with the addition of five data center locations and approximately ninehundred employees.” Sudip Banerjee, President Enterprise Solutions of Wipro Technologies added, “With its uniquePlatform based solutions, Infocrossing also brings in significant expertise in Health plan & Payer Managementsegments. With its proven track record of processing over 175 million claims annually and providing contractedservices to over 90 managed care organizations, Infocrossing will considerably enhance Wipro’s ADM & BPOofferings to our Healthcare customers.”

Wipro Ltd.