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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, BSE: 507685, NSE: WIPRO) announced that its subsidiary, Appirio, is assisting National Grid in transforming its business by providing an omnichannel customer experience for 68 million customers globally. Appirio's work in integrating a hybrid platform earned it the Salesforce Partner Innovation Award for MuleSoft. The project enhances connectivity across multiple marketing channels, eliminates data silos, and utilizes APIs, demonstrating significant operational efficiency for National Grid's customer service.
Wipro Limited (NYSE: WIT) has announced its acquisition of Capco, a global management and technology consultancy, for $1.45 billion. The transaction is expected to close in the second quarter of 2021. Capco, headquartered in London, specializes in digital, consulting, and technology services primarily for financial institutions worldwide. CD&R had previously acquired a 60% stake in Capco in July 2017 and enhanced its capabilities during its ownership. This acquisition reflects Wipro's strategy to strengthen its position in technology-related professional services.
Wipro Limited (NYSE: WIT) has signed an agreement to acquire Capco, a management and technology consultancy serving financial institutions globally. This strategic acquisition enhances Wipro’s capabilities in digital transformation, consulting, and technology services, positioning it as a major player in the banking and financial services sector. Capco brings over 5,000 consultants and a strong client portfolio to Wipro. The deal is expected to close by June 30, 2021, subject to regulatory approvals. The acquisition aims to deliver bespoke, integrated solutions to clients.
Wipro Limited (NYSE: WIT) is celebrating its 25-year partnership with Cisco (NASDAQ: CSCO) by launching a new Cisco Business Unit. This unit aims to enhance digital transformation solutions utilizing Cisco technologies, reflecting Wipro's commitment to this strategic alliance. The partnership has positioned Wipro as a leading digital transformation partner, focusing on key areas like Intent-Based Networking, Hybrid Cloud, and Security. Wipro's established service capabilities and dedicated workforce are set to accelerate customer digitization and operational efficiency.
Wipro Limited (NYSE: WIT) has partnered with Uptake to enhance industrial intelligence across utilities, chemical processing, and oil and gas sectors. This collaboration integrates Uptake's advanced analytics and Wipro's consulting services, aiming to optimize maintenance and predictive analytics for asset-intensive operators. The partnership leverages Uptake's Asset Strategy Library, which provides insights into asset failure modes to enhance reliability and reduce costs. The deal aligns with Wipro's strategic focus on predictive maintenance in response to challenges like legacy systems and skill shortages.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) has been selected by Fiat Chrysler Automobiles (FCA) to establish its first Global Digital Hub in Hyderabad, India. Named FCA ICT India, this hub will focus on enhancing FCA’s Information and Communication Technology operations and delivering premium mobility services. Wipro plans to build a skilled workforce of over 1000 consultants for this initiative, aiming to drive digital transformation and innovation within FCA. The partnership is expected to create new job opportunities in Hyderabad.
Wipro Limited (NYSE: WIT) reported strong financial results for Q3 FY2021. Gross revenue reached Rs 156.7 billion ($2.1 billion), growing 3.7% QoQ and 1.3% YoY. IT Services Segment Revenue was $2,071 million, with a 3.9% sequential increase. Operating margin expanded to 21.7%, marking a 243 bps improvement QoQ. Net income rose 20.8% YoY to Rs 29.7 billion ($406 million), with EPS at Rs 5.21 ($0.071). The company announced a dividend of Rs 1 ($0.0141) per share. Wipro is optimistic about continuing growth, projecting IT Services revenue between $2,102 million and $2,143 million for the next quarter.
Wipro Limited (NYSE: WIT) will announce its third-quarter results for the period ending December 31, 2020, on January 13, 2021, after trading hours in India. The results will be available in the Investors section of the company's website. A conference call for management to discuss the results is scheduled for 7:45 PM IST (9:15 AM ET) on the same day. Participants can access the call via provided dial-in numbers. Replay of the call will be available for a limited time following the event.
Wipro Limited (NYSE: WIT) has announced a partnership with LogiNext to enhance supply chain management through an integrated logistics platform. This collaboration aims to optimize logistics operations, ensure timely deliveries, and improve customer satisfaction. By leveraging innovative technologies like AI and machine learning, the partnership seeks to stabilize supply chains disrupted by the pandemic. LogiNext, backed by $50 million in investments, has over 100 clients globally, focusing on automation in transportation and deliveries.
Wipro Limited (NYSE: WIT) has secured a multi-year contract with Verifone to enhance its cloud services offerings. The collaboration aims to drive agility and accelerate time-to-market for Verifone's solutions. Wipro will develop new features and capabilities, facilitating seamless transaction processing, which is essential as the payment industry shifts towards a cashless economy post-pandemic. This contract positions Wipro to leverage its expertise in Cloud Engineering, potentially boosting its market presence and financial performance.
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