Wipro actively looking at overseas acquisition

December 22nd, 2008 BANGALORE - India's second largest IT bellwether Wipro Technologies Tuesday 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.

May 6th, 2009 BANGALORE - Wipro Technologies has bagged an outsourcing contract for an undisclosed amount from telecom company Unitech Wireless, the IT firm said Wednesday. Unitech Wireless, which received licence last year to operate in 22 telecom circles in the country, is yet to launch its services.

April 28th, 2009 HYDERABAD - Despite the economic slowdown, Wipro BPO, the business process outsourcing division of IT giant Wipro Technologies, is hiring personnel and expanding its operations globally, a top official said here Tuesday.'For the last six months, we have been hearing depressing news about people losing jobs and companies resorting to cost-cutting measures but we are still looking for people,' Wipro BPO head Ashutosh Vaidya told reporters. The company plans to expand its BPO facility in Hyderabad by recruiting 1,000 to 1,200 people over the next six to eight months, he said.

June 3rd, 2009 MUMBAI - Software giant Wipro's revenues will not be affected because of the bankruptcy of Detroit-based customer General Motors Corp, the Indian IT bellwether said in a regulatory filing Wednesday. "General Motors accounts for less than 1 percent of Wipro's IT services segment revenue, and our assessment is that a substantial portion is expected to continue," the company statement read.

January 20th, 2009 BANGALORE - Wipro Ltd Wednesday projected $1.05 billion (Rs.51.73 billion) revenue from its global IT services for the fourth quarter (January-March) of this fiscal (2008-09). In regulatory filing to the stock exchanges, the IT bellwether said the outlook for this quarter (Q4) was based on revenue from its IT services in the third quarter (October-December) of this fiscal at $1.13 billion under the American accounting system (US GAAP).

December 22nd, 2008 BANGALORE - The ailing global financial services firm Citigroup Inc is selling its India-based captive IT services subsidiary City Technology Services (CTS) to Wipro Technologies for $127 million (Rs.6.2 billion) in an all-cash deal, the IT bellwether announced here Tuesday. Of the total value for 100 percent equity, Wipro will pay $26 million in cash towards premium and $101 million for the assets of CTS in Mumbai and Chennai.

August 13th, 2009 BANGALORE - Global software major Wipro Technologies Thursday said it has set up a consulting academy in the US to strengthen the customer management skills of its frontline employees. The enterprise application services consulting academy will inculcate the right engagement behaviour at an early stage for improving customer satisfaction, the company said in a statement here.

June 13th, 2009 NEW DELHI - Wipro chief Azim Premji has asked the Indian IT industry to get ready to face the global competition, and not fall into a mind trap of 'India Advantage'. "We have talked a lot about India advantage.

January 11th, 2009 BANGALORE - Global software major Wipro Technologies Monday admitted that the World Bank had barred it from securing its contracts from 2007 to 2011. 'The World Bank determined in June 2007 that Wipro would be ineligible to contest direct contracts from 2007-2011,' the IT bellwether said in a notification to the stock exchanges.

May 28th, 2009 BANGALORE - Global software major Wipro Technologies has set up a virtual innovation centre for testing services on Second Life, the popular virtual world, the IT bellwether said Thursday. The innovation centre, a replica of the original lab at our campus in the electronics city will provide a one-stop virtual view of our Internet Protocol (IP)-powered solutions, the company said in a statement.

January 20th, 2009 BANGALORE - Wipro Ltd has posted a net profit of Rs.10.04 billion (Rs.1,004 crore/$204 million) for the third quarter (October-December) of this fiscal (2008-09), registering 18 percent year-on-year (YoY) growth under the Indian accounting system. In regulatory filing Wednesday, the IT bellwether said its consolidated revenues for the quarter under review (Q3) was Rs.66.18 billion (Rs.6,618 crore), posting 25 percent YoY growth.

April 20th, 2009 REDWOOD SHORES - US-based software major Oracle Corp plans to acquire Sun Microsystems for $7.4 billion at $9.50 per share in a cash transaction, the two companies said Monday. 'We expect this acquisition to be accretive to Oracle's earnings by at least 15 cents on a non-GAAP (non-generally accepted accounting practices) basis in the first full year after closing,' Oracle president Safra Catz in a statement.

March 13th, 2009 BANGALORE - Wipro Infotech has bagged a Rs.11.82-billion (Rs.1,182-crore) IT outsourcing contract from the state-run Employees State Insurance Corp (ESIC), the company said Friday. In bagging the deal, Wipro outbid India's other two IT bellwethers Tata Consultancy Services (TCS) and Infosys Technologies in a global tender floated in November 2008 for ESIC's 'Project Panchdeep'.

January 1st, 2009 BANGALORE - Wipro Infotech has developed an integrated software for the police to combat crime and terror, the IT bellwether announced here Friday. 'The software application, which is in a pilot stage, will help the police and other law enforcement agencies to combat the fast emerging hi-tech world of crime and terror,' the company said in a statement.

August 5th, 2009 KOLKATA - The West Bengal government has acquired 200 acres of contiguous land for the Rajarhat information technology (IT) hub, where software majors like Infosys and Wipro have sought space, a state minister said here Wednesday. "We are now ready to offer land to any company.