Wipro To Acquire Citigroup's Indian IT Subsidiary – Firstpost
16 years, 3 months ago

Wipro To Acquire Citigroup's Indian IT Subsidiary – Firstpost

Firstpost  

Wipro and Citi are expected to sign a Master Services Agreement for delivery of technology infrastructure services and application development and maintenance services for six years. IT bellwether Wipro Technologies has announced acquisition of Citi Technology Services, the India-based captive provider of IT services and solutions to Citigroup entities worldwide, for $127 million in an all-cash deal. As part of the deal, Wipro and Citi will sign a Master Services Agreement for delivery of technology infrastructure services and application development and maintenance services for six years, which is projected to accrue $500 million during the contract. Our domain expertise and infrastructure management capabilities have positioned us as their partner of choice,” said Wipro joint chief executive Girish S Paranjpe at a recent press conference convened to announce the deal.

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History of this topic

Wipro commits $200 mn to venture arm Wipro Ventures
1 month ago

Wipro commits $200 mn to venture arm Wipro Ventures

The Hindu  

Wipro Limited, a technology services and consulting company, on Wednesday said it would be committing $200 million to its venture arm, Wipro Ventures, in its latest round of funding. This is the fourth round of funding raised by Wipro Ventures since its inception 10 years ago and is aimed at accelerating the company’s investments in early- to mid-stage startups, as …

Wipro’s latest big bet on startups! Wipro Ventres raises nearly ₹1,740 crore in fourth round of fundraise
1 month ago

Wipro’s latest big bet on startups! Wipro Ventres raises nearly ₹1,740 crore in fourth round of fundraise

Live Mint  

IT major Wipro on Wednesday said it will invest USD 200 million in its arm Wipro Ventures to accelerate its funding for startups in the technology innovation space. This marks the fourth funding round for Wipro Ventures since it began operations ten years ago, and is aimed at speeding up investments in startups at the early to mid-stage level, a …

Wipro plans to cut hundreds of mid-level onsite job roles
1 year, 1 month ago

Wipro plans to cut hundreds of mid-level onsite job roles

New Indian Express  

NEW DELHI: Wipro is reportedly planning to cut hundreds of mid-level roles at its onsite locations. In 2021, Wipro acquired Capco, a global management and technology consultancy to the banking and financial services industry, for $1.45 billion. When asked about the proposed lay-offs, in a statement to TNIE, Wipro said, “We are committed to investing in our people, processes, and …

Wipro's Q3 profit up 2.8% year on year to ₹3,053 crore; revenue up by 14%
2 years, 2 months ago

Wipro's Q3 profit up 2.8% year on year to ₹3,053 crore; revenue up by 14%

Hindustan Times  

Indian IT services firm Wipro reported a bigger-than-expected profit for the third quarter on Friday, boosted by a strong deal pipeline. Wipro Q3 results The Bengaluru-based company's net profit rose 2.8% to ₹30.53 billion for the quarter ended December 31. Wipro forecast revenue growth from the IT services business for the year ending March 2023 in the range of 11.5% …

Wipro, Finastra Join Hands To Offer Digital Solutions To Corporate Banks In India; Check Details
2 years, 6 months ago

Wipro, Finastra Join Hands To Offer Digital Solutions To Corporate Banks In India; Check Details

News 18  

IT major Wipro Limited and the world’s leading fintech company Finastra on Tuesday announced a partnership in India to help accelerate the digital transformation of corporate banks by deploying Finastra’s leading solutions. We are excited to bring together Wipro’s deep domain expertise in banking with Finastra’s leading product suite.” Manish Joshi, managing director for APMEA, Finastra, said, “Wipro’s diverse service …

Wipro shares trade near 52-week low on disappointing Q1. What brokerages suggest
2 years, 8 months ago

Wipro shares trade near 52-week low on disappointing Q1. What brokerages suggest

Live Mint  

Shares of Wipro Ltd plunged more than 2% in Thursday's opening deals, trading near its 52-week low level after the company missed analyst estimates for June-quarter profit on Wednesday, as higher employee-related costs pushed up the information technology services firm's overall expenses. Wipro forecast higher revenue growth from IT services on the back of a strong project pipeline, and said …

Wipro posts upbeat Q2 guidance at 3-5%; Q1 net profit down 21%
2 years, 8 months ago

Wipro posts upbeat Q2 guidance at 3-5%; Q1 net profit down 21%

Live Mint  

Wipro Ltd expects revenue for the quarter ended September to be in the range of $2.81-2.87 billion, translating to a sequential growth of 3-5%, faster than the 1-3% it had forecast for the June quarter. The company’s net profit for the June quarter declined 20.7% to ₹2,563 crore from ₹3,232 crore in the year-ago period because of a higher base …

Wipro windfall – promotions every quarter
2 years, 8 months ago

Wipro windfall – promotions every quarter

Live Mint  

Wipro Ltd is overhauling its employee bonuses and increments to rein in high attrition and attract fresh talent as India’s technology sector continues to see a covid-induced boom in hiring. India’s fourth-largest software services firm plans to offer employee promotions every quarter—a first for the Bengaluru-based company—and boost salaries of most of its workforce by 10% in September, with the …

Wipro Q1 Net Profit Up 35.6% at Rs 3,242.6 Cr, Expects 5-7% Sequential Growth in Next Qtr
3 years, 8 months ago

Wipro Q1 Net Profit Up 35.6% at Rs 3,242.6 Cr, Expects 5-7% Sequential Growth in Next Qtr

News 18  

IT major Wipro on Thursday reported a 35.6 per cent jump in consolidated net profit to Rs 3,242.6 crore for the June 2021 quarter. Its revenue from operations increased by 22.3 per cent to Rs 18,252.4 crore in the reported quarter from Rs 14,913.1 crore in the same period last fiscal, Wipro said in a regulatory filing. Wipro’s IT services …

Wipro IT Services raises USD 750 million from overseas bond sale
3 years, 9 months ago

Wipro IT Services raises USD 750 million from overseas bond sale

India TV News  

Wipro IT Services raises USD 750 million from overseas bond sale Wipro had announced that Wipro IT Services will issue US dollar denominated notes worth USD 750 million on June 23. A proposal for the same had been approved by the Board of Wipro IT Services on June 10 IT services major Wipro on Thursday said its step-down subsidiary, Wipro …

Why is Wipro Being Held Answerable for Citibank's $900 Million Blunder?
4 years, 1 month ago

Why is Wipro Being Held Answerable for Citibank's $900 Million Blunder?

News 18  

Citibank’s “biggest ever banking blunder” now has Indian IT firm, Wipro, in the spotlight, according to an exclusive report by Moneycontrol. The report by Moneycontrol’s Dinesh Unnikrishnan and Chandra R Srikanth states that the global banking major relies on a so-called “six eyes” protocol for high-value transactions. As reported earlier, Citi Bank had mistakenly wired Revlon’s lenders around USD 900 …

Wipro sets Dec 11 as record date for share buyback
4 years, 4 months ago

Wipro sets Dec 11 as record date for share buyback

Live Mint  

New Delhi: IT services firm Wipro on Wednesday said it has fixed December 11 as the record date for its up to ₹9,500 crore share buyback programme. ".the company has fixed Friday, December 11, 2020, as the Record Date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback," …

Will continue to drive localisation, campus hiring: Wipro
5 years, 2 months ago

Will continue to drive localisation, campus hiring: Wipro

The Hindu  

Wipro said it would continue to drive localisation which is 70% in the third quarter. However, for certain specific skills that are not available in customer markets, we will continue to hire from India,” said Saurabh Govil, president and head, HR, Wipro. In Q3, Wipro reported a net hiring of 6,000 people, “We will hire from the campuses and will …

Wipro completes acquisition of International TechneGroup
5 years, 5 months ago

Wipro completes acquisition of International TechneGroup

Live Mint  

Bengaluru-based IT services company Wipro Ltd has completed the acquisition of US-based International TechneGroup Inc. ITI, a digital engineering and manufacturing solutions company, is said to be a leader in Computer Aided Design and Product Lifecycle Management interoperability software services. ITI’s offerings and solutions will be consolidated as a part of Wipro’s Industrial and Engineering services business and will function …

Wipro bags $300 mn contract from ICICI Bank
5 years, 6 months ago

Wipro bags $300 mn contract from ICICI Bank

The Hindu  

In one of the sizable domestic deals, digital transformation and IT services major Wipro Limited has bagged a strategic contract valued at $300 million from the ICICI Bank. Under the contract, Wipro will offer a comprehensive suite of services to ICICI Bank for the next seven years, starting September 2019. As part of this strategic engagement, Wipro will absorb about …

Wipro seeks shareholders’ nod for ₹10,500 crore share buyback plan
5 years, 10 months ago

Wipro seeks shareholders’ nod for ₹10,500 crore share buyback plan

Live Mint  

IT services major Wipro Thursday sought shareholders' nod for its up to ₹10,500 crore share buyback offer. The company also sought shareholders' approval for the appointment former SBI chairperson Arundhati Bhattacharya as an independent director on its board. In a BSE filing, the company said it is seeking shareholders' approval for buying back up to 32,30,76,923 fully paid-up equity shares …

Wipro shares gain over 1% post as company posts 38.4% rise in net profit for March 2019 quarter
5 years, 11 months ago

Wipro shares gain over 1% post as company posts 38.4% rise in net profit for March 2019 quarter

Firstpost  

The scrip gained 1.32 percent to close at Rs 284.80 on the BSE. New Delhi: Shares of Wipro rose over 1 percent Thursday after the company posted 38.4 percent rise in net profit for March 2019 quarter and wooed shareholders with up to Rs 10,500 crore buyback plan. Software major Wipro Tuesday posted 38.4 percent rise in net profit at …

Wipro Q2 net profit drops 14% to Rs 1,889 cr; names Arundhati Bhattacharya as independent director
6 years, 5 months ago

Wipro Q2 net profit drops 14% to Rs 1,889 cr; names Arundhati Bhattacharya as independent director

Firstpost  

Wipro, which gets bulk of its topline from IT services, said the IT services segment revenue was at Rs 14,380 crore. Bengaluru: IT services major Wipro on Wednesday posted a 13.8 percent decline in consolidated net profit at Rs 1,889 crore for the July-September quarter of 2018-19 compared to the year-ago period. After adjusting the impact from the divestment of …

Wipro shares jump over 8% as company bags biggest order till date for $1.5 bn from Alight Solutions
6 years, 6 months ago

Wipro shares jump over 8% as company bags biggest order till date for $1.5 bn from Alight Solutions

Firstpost  

New Delhi: Shares of Wipro on Monday surged more than 8 percent in morning trade on bourses after the IT services major said it had bagged $1.5 bn deal from Alight Solutions, its biggest deal till date. Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services to the Illinois-based Alight Solutions that provides technology-enabled health, …

Wipro bags biggest-ever contract of $1.5 bn from US firm Alight Solutions; 10-year deal to result in $1.6 bn in revenues
6 years, 6 months ago

Wipro bags biggest-ever contract of $1.5 bn from US firm Alight Solutions; 10-year deal to result in $1.6 bn in revenues

Firstpost  

In July this year, Wipro had partnered Alight Solutions to take over the latter’s captive operations in India - Alight HR Services India - for a consideration of $117 million. New Delhi: IT services major Wipro Sunday said it has won an over $1.5 billion engagement from Alight Solutions LLC, its biggest deal till date. Under the 10-year deal, Wipro …

Wipro bags its biggest-ever contract from Alight Solutions
6 years, 6 months ago

Wipro bags its biggest-ever contract from Alight Solutions

Live Mint  

New Delhi: Wipro Ltd has won its largest information technology outsourcing contract, valued at $1.6 billion over 10 years from Alight Solutions LLC, the former benefits administration and human-resources outsourcing business of Aon Plc. “This is a testimony to the capabilities we have built through our strategic investments in Wipro Digital, cloud platforms and cognitive platform Wipro Holmes.” Wipro’s deal …

Wipro wins $1 billion IT deal from Alight Solutions
6 years, 8 months ago

Wipro wins $1 billion IT deal from Alight Solutions

Live Mint  

Bengaluru: Wipro Ltd has won a $1 billion contract, the biggest such order in four years, from Alight Solutions, the former benefits administration and human-resources outsourcing business of Aon Plc, according to two people familiar with the development. Starting next year, Wipro is assured of at least $140 million in revenue, a shot in the arm for Abidali Neemuchwala, who …

Wipro sees strong demand for services from BFSI segment; faces challenges in domestic biz, US healthcare
6 years, 8 months ago

Wipro sees strong demand for services from BFSI segment; faces challenges in domestic biz, US healthcare

Firstpost  

Bengaluru-based Wipro said it expected revenue form its key IT services business for the quarter ending September to be in the range of $2.01 billion to $2.05 billion. Mumbai/Bengaluru: IT company Wipro Ltd said it was seeing strong demand for its services from clients in banking, financial services and insurance, while it faces challenges in its India business and in …

Wipro's Rs 11,000 cr share buyback to begin from 29 November at 8.6% premium
7 years, 4 months ago

Wipro's Rs 11,000 cr share buyback to begin from 29 November at 8.6% premium

Firstpost  

Wipro will process the buyback through a tender offer route, at a price of Rs 320 per equity share for an aggregate amount of up to Rs 11,000 crore, as per the announcement. New Delhi: IT company Wipro on Monday said it will open Rs 11,000 crore share buyback scheme on 29 November for Rs 320 a unit, at 8.6 …

Wipro board okays Rs 11,000-crore buyback
7 years, 8 months ago

Wipro board okays Rs 11,000-crore buyback

Deccan Chronicle  

Bengaluru: India’s third largest software services company Wipro on Thursday announced that the board of directors has approved a proposal to buyback shares worth Rs 11,000 crore at a price of Rs 320 per share. Speaking about the announcement of buyback of equity shares, Wipro CFO Jatin Dalal said that the announcement to buyback equity shares was a part of …

Wipro energy contracts suffering as oil plunges, says CEO
10 years, 2 months ago

Wipro energy contracts suffering as oil plunges, says CEO

Live Mint  

New York/London: Wipro Ltd, an Indian information-technology consulting firm that counts energy companies among its clients, said some of those customers have cut back on awarding contracts amid a record decline in oil prices. In recent weeks, Wipro has seen a drop in IT contracts linked to large capital projects in the energy sector, chief executive officer T.K. While IT …

Wipro wins $1.1 billion deal from ATCO, buys its IT services unit
10 years, 8 months ago

Wipro wins $1.1 billion deal from ATCO, buys its IT services unit

Live Mint  

Bangalore: India’s third largest software services exporter, Wipro Ltd, has won a $1.1 billion outsourcing contract—its largest ever—from ATCO Ltd and, in the process, also bought the information technology services business of the Canadian logistics and utilities firm for $195 million. The contract, which has been bundled with the back-office IT business of ATCO, is expected to result in additional …

Wipro to hive-off non-IT business
12 years, 4 months ago

Wipro to hive-off non-IT business

India TV News  

New Delhi, Nov 1: IT giant Wipro on Thursday said it will demerge three non-IT business divisions, including consumer products segment, into a privately-held company to be named Wipro Enterprises Ltd. The Board of Wipro Ltd will remain unchanged and the demerger will have no impact on the management structure of the IT major, it added.There will be no change …

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