Wipro technologies, successfully took over Portugal-based retail solutions provider enabler for $53.3 million by following its famous “string of pearls” acquisition strategy.

On an acquisitions spree, this Bangalore-based IT giant has made five buyouts in the last six months including enabler.

Buying enabler may include shelling out an up front cash payment of around $53.3 million on closure of transaction & earn-outs on achieving agreed financial targets over a two year period.

The revenues for Wipro from this acquisition will start accruing from July 2006. the acquisition will strengthen Wipro’s retail services division & also offer it, a strong presence in the Latin American Market.

Enabler currently possesses two development centers in Portugal & Brazil with over 310 employees. The company was started in 1997 & posted revenues of $39 million for 2005 & possess a customer base of 15 including Tesco, Sonar, Espirit & the likes. Integration of Oracle retail solutions & consulting services is where the enabler’s expertise lies in.

The acquisition strategy according to Wipro technologies is guided by three factors namely, strengthening of domain expertise, adding new service lines & increasing the geographical footprint.