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Wipro Limited, headquartered in Bengaluru, India, is a leading global provider of information technology, consulting, and business process services. With a workforce of 175,000 employees worldwide, Wipro has established itself as a key player in the IT services sector.
Founded in 1945, Wipro has grown substantially over the decades, particularly in the IT services domain. The company leverages its offshore outsourcing model, deriving over 57% of its revenue from North America. Wipro offers a comprehensive range of services including traditional IT services such as consulting, managed services, and cloud infrastructure services, in addition to business process outsourcing (BPO).
In recent years, Wipro has achieved several key milestones. For instance, the company has forged strategic partnerships with industry leaders to expand its service offerings and enhance its technological capabilities. Wipro's investment in emerging technologies like artificial intelligence, machine learning, and cybersecurity has positioned it at the forefront of innovation in the IT sector.
One of Wipro's significant strengths lies in its diverse portfolio. The company serves various industries, including banking, financial services, manufacturing, retail, and healthcare. This diversification has enabled Wipro to maintain a stable financial condition, evidenced by its consistent revenue growth and profitability.
Wipro is also known for its commitment to sustainability and corporate social responsibility. The company has implemented numerous initiatives aimed at reducing its environmental footprint and contributing to the well-being of the communities it operates in.
Currently, Wipro is involved in several high-impact projects. These include digital transformation initiatives for global enterprises, the development of next-generation IT solutions, and the enhancement of its cloud and infrastructure services. These projects are expected to drive further growth and solidify Wipro's position as a global IT services leader.
Wipro Limited (NYSE: WIT) has joined the Intel Foundry Services Accelerator – Design Services Alliance, aiming to enhance chip design services amidst ongoing global chip shortages. This alliance will leverage Wipro's extensive experience in semiconductor engineering and Intel's advanced technology to streamline the development of complex System on Chip (SoC) and application-specific integrated circuits (ASIC). With over 250 designs completed, Wipro seeks to expedite time-to-market for clients across various sectors, including 5G, cloud, and automotive industries.
Wipro Limited (NYSE: WIT) has appointed Badrinath Srinivasan as Managing Director for Southeast Asia. Badri will drive business growth and client relationships in the region, focusing on large deals and transformational engagements. He joins Wipro from Infosys, where he led the Financial Services and Insurance verticals. Badri aims to leverage the increasing demand for digital transformation in Southeast Asia and enhance local capabilities while expanding Wipro's market presence. His leadership is considered pivotal for Wipro's growth strategy in this strategic market.
On January 17, 2022, Wipro Limited (NYSE: WIT) and Mendix, a Siemens business, introduced ShiftSwap, a low-code solution for scheduling and shift management in retail. ShiftSwap aims to streamline work routines for in-store associates, enhancing productivity through faster application development, up to 10 times quicker than traditional methods. The solution will be showcased at the National Retail Federation 2022 event, promising improved employee experiences and real-time shift management capabilities. This collaboration is part of Mendix's Global Systems Integrators program.
Wipro Limited (NYSE: WIT) reported strong financial results for Q4 2021, with gross revenue reaching Rs 203.1 billion ($2.7 billion), marking a 29.6% year-over-year increase. IT services revenue grew 27.5% YoY, supported by a healthy operating margin of 17.6%. Net income was Rs 29.7 billion ($399.1 million), reflecting a 1.3% QoQ rise. The company added over 10,300 employees during the quarter and declared an interim dividend of Rs 1 ($0.0131) per share. Wipro expects IT services revenue for the next quarter to be between $2,692 million and $2,745 million.
Wipro Limited (NYSE: WIT) will announce its third quarter results for the fiscal year ended December 31, 2021, on January 12, 2022, after market hours in India. The results will be accessible on the company's investor website. Following the announcement, senior management will hold a conference call to discuss the results at 7:15 PM IST (8:45 AM ET). Participants are encouraged to submit questions prior to the call. Playback of the call will be available shortly after its conclusion, and detailed dial-in information is provided for global attendees.
Wipro Limited (NYSE: WIT) announced its acquisition of Edgile, a cybersecurity consulting provider, aiming to meet the growing demand for cybersecurity services among Global 2000 companies. The acquisition will enhance Wipro's cybersecurity capabilities and enable the development of Wipro CyberTransform™, an integrated suite for improved governance and strategies in cybersecurity. The transaction is expected to close by March 31, 2022, pending regulatory approval. Edgile has been recognized for its unique approach to cybersecurity and risk management.
Wipro Limited (NYSE: WIT) announced plans to acquire LeanSwift Solutions, a Florida-based integrator of Infor Products, aimed at enhancing Wipro's cloud transformation capabilities through Wipro FullStride Cloud Services. The acquisition aligns with Wipro’s strategy to strengthen its position in the Infor cloud services market, particularly in manufacturing and distribution sectors. LeanSwift has a record of delivering ERP and digital transformation solutions, with expertise recognized by Infor. The transaction is expected to close by the end of Q1 2022.
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