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Hostile Takeover in Information Technology(IT) service business is an unprecedented event, and such a transaction may send a shockwave to the corporate governance and takeover norms in our country.

The scheme of amalgamation provides for merger of Wipro Technologies Austria GmbH, Wipro Information Technology Austria GmbH, Newlogic Technologies SARL and Appirion India Cloud Solutions Private Limited with Wipro Limited.

HCL Technologies Ltd will acquire Australian information technology and business consulting company DWS Ltd. The acquisition is subject to regulatory approvals and is expected to complete by December this year.

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