Wipro Ltd. said on November 10 that it is scouting for an acquisition in the BPO space, which is likely to be the next engine of growth for the IT industry. "The economy has improved. The IT demand situation is certainly improving. The deal pipeline is good, the demand environment is building up," the joint CEO of Wipro Technologies, Suresh Vaswani said. He added the company is seeking acquisitions in the BPO space. "BPOs have strong performance... BPOs will drive growth for the IT industry. Acquisition is part of our strategy and we keep looking at it, he said."

Target Corp. on November 4, 2009 denied a report in The Economic Times which stated that, Target is in talks with Indian software companies to sell its captive business process outsourcing unit. Gregg Steinhafel, Target's Chairman, President and Chief Executive said, “We remain firmly committed to this Target team... Recent rumors about a sale are ridiculous speculation.” Target said that the company has no plans to sell the operation. The Economic Times reported that Tata Consultancy Services Ltd. and Wipro Ltd. were in discussions with Target for buying the unit.

Tata Consultancy Services Limited (TCS), Wipro Ltd. and many other companies are interested in acquiring the captive technology centre of Target Corp., in what could be a deal bundled with a long-term outsourcing contract worth $300 million - 400 million. "We have been in discussions with them for the past few months and the dialogue is still open," a senior executive at one of the firms exploring this deal told Economic Times (ET) on conditions of anonymity. "There is no conclusion yet about how this transaction can be structured, and it's very early days," he added. Both TCS and Wipro count Target as one of their top retail customers. "Target's India centre could be doing at least $100 million worth of projects (revenues) every year," another person familiar with the Target’s Indian operations told ET on conditions of anonymity. Officials at Target did not reply to an email query sent by ET. TCS, Infosys and Wipro also refused to comment.