Verizon Business and Wipro partner to accelerate network transformation with Network-as-a-Service offering

Rhea-AI Summary

Verizon Business announced a global partnership with Wipro Limited to enhance network modernization and cloud transformation through a Network-as-a-Service (NaaS) model. This collaboration aims to shift customers from traditional hardware dependency to an automated, flexible network service. An IDC survey indicated that 69% of technology decision-makers plan to invest in network transformation within the next year. Verizon's expertise is highlighted as a leader in network services, while Wipro aims to deliver operational efficiencies and agility through this innovative offering.

Positive

• Partnership with Wipro supports network modernization and cloud transformation.
• NaaS model offers flexible subscription-based services, reducing upfront costs.
• 69% of technology-buyers plan network transformation investments in the next year.
• Verizon recognized as a leader in Gartner's Magic Quadrant for 16 years.

Negative

• None.

NEW YORK, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Verizon Business, today announced a global Network-as-a-Service (NaaS) partnership with Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, that will accelerate the network modernization and cloud transformation journey for businesses.

Wipro’s Network-as-a-Service (NaaS) solution, powered by Verizon Business will include a range of pre-configured and tested service chains on a subscription-based consumption model, designed to drive network consumption infrastructure on demand.

The multi-year partnership will enable Wipro to transition customers from legacy cycles of deploying hardware, applications and services to an automated, self-healing, and highly secure network service environment.

Massimo Peselli, Senior Vice President and Chief Revenue Officer, Global Enterprise and Public Sector for Verizon Business said: “Many organizations want to get out of endless technology refresh cycles but they face the twin challenges of traditional hardware and fixed infrastructures. Our partnership with Wipro will enable businesses to future-proof their network in a manner that is more flexible, agile and predictive, centered around their specific needs.”

A recent IDC survey of over 400 technology-buying decision makers across the globe revealed that 69% of respondents are planning a network transformation investment in the next 12 months. NaaS has increasingly begun challenging legacy commercial models that require large upfront capital costs by providing more flexible, subscription-based services that can more easily be modified as needs change. The technology has accelerated the implementation of new digital technologies such as AI/ML, 5G, IoT, advanced robotics, blockchain, AR/VR, and voice-assistance.

Jo Debecker, Senior Vice President & Global Head, Cloud and Infrastructure Services, Wipro Limited commented: “Our joint NaaS offering brings together two industry leaders to drive this unique value proposition that will help our customers keep pace with changing demands of the cloud and network infrastructure while achieving operational efficiencies and agility at scale.”

Today’s agreement brings together two network industry leaders. Verizon has been named a Leader in Gartner® Magic Quadrant Network Services, Global for the last 16 years and manages more than 4,300 networks globally. Wipro is a Leader in Gartner® Magic Quadrant for Managed Network Services and manages over 500+ Network and data center facilities across geographies and different industries .

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 250,000 employees and business partners across 66 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.Wipro.com.

About Verizon
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Nilesh Pritam, Verizon
+65-6248 6599
nilesh.pritam@sg.verizon.com

Nitin Shahani, Wipro
+91-8378990731
nitin.shahani@wipro.com

FAQ

What is the significance of Verizon's partnership with Wipro in November 2022?

The partnership focuses on network modernization and cloud transformation through a Network-as-a-Service model, enhancing operational flexibility for businesses.

What is the IDC survey's finding relevant to Verizon and Wipro's Network-as-a-Service offering?

The survey revealed that 69% of technology decision-makers are planning network transformation investments in the next year.

How does the NaaS model benefit Verizon's customers?

The NaaS model provides flexible, subscription-based network services that reduce capital costs and adapt to changing needs.

How long has Verizon been recognized in Gartner's Magic Quadrant for network services?

Verizon has been named a leader in Gartner's Magic Quadrant for the last 16 years.