Indian IT firm Wipro Technology, in a way to mark its second biggest deal in the telecom space, is set to strike a Rs 1500-crore deal with Etisalat DB Telecom India. The company had earlier bagged a Rs 2,500-crore contract from Unitech Wireless, the telecom arm of Unitech Group.

Other IT vendors, such as IBM and Tech Mahindra, are also in the acquisition race of Etisalat, according to sources familiar with the proceedings. A market expert said: "The companies are finalizing the deal, and would announce it within a month's time."

Wipro will offer all IT infrastructure related services, including setting up of servers, enterprise resource planning (ERP) suites and technology, software and computers, to Etisalat as per the terms of the agreement.

Etisalat, having a license to operate in 15 telecom circles, will require concluding the deal in a short time, as it is planning to roll out telecom services by the end of year through Etisalat DB Telecom India, a joint venture between Etisalat and Mumbai-based Dynamix Balwas Group.

Meanwhile, shares of Wipro Technologies declined 3 percent and traded at Rs 498 at the Bombay Stock Exchange, after touching intra day high and low of Rs 508 and Rs
487 respectively.