Wipro Technologies a software firm has proposed to buy US-based Science Applications International Corporation’s (SAIC) oil and gas IT business in about $150 million. It provides system integration, consulting and outsourcing services to global wide oil majors. While looking at the rationalizing cost of IT oil and gas companies are investing in this business.

The Senior VP of Wipro Technologies Anand Padmanabhan said Wipro’s existing business will be strengthen by the acquisition of SAIC’s global oil and gas information technology.

Due to this transaction nearly 1450 employees expected to move in Wipro across North America, Europe, India and Middle East. It is also said that Wipro Energy, Natural Resources and Utilities Strategic Business Unit, is a high growth unit and because of this acquisition it will strengthen Wipro’s leadership position.