Wipro has signed a definitive agreement to acquire mPower Inc, a Princeton, New Jersey-based company with a development centre in Chennai, and MPACT Technology Services, based in Chennai, for an all-cash consideration of $28 million.
Wipro's scrip jumped 2.97 per cent to Rs 468.50 on the NSE.
Global Finance, a leading finance magazine, has ranked Wipro the "best company in the computer software sector in Asia" in its annual world's best companies survey.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
Wipro had denied allegations of providing improper benefits to Bank staff.
Software major Wipro has tied up with Sun Microsystems to widen its reach within the Gulf Cooperation Council countries such as UAE and Saudi Arabia.As part of the deal, Wipro would resell and integrate the entire suite of Sun systems, storage, software, and services to serve Sun's customers in the UAE, Saudi Arabia, Bahrain, Oman and Qatar.
Both these roles were handled by Laxman K Badiga, who took 'voluntary retirement' earlier this month after over three decades of service.
Software giant Wipro Ltd is planning to invest in another software development complex in West Bengal if it gets the special economic zone status from the central government.
The first quarter of the financial year 2009-10 was exceptional for Wipro's consumer care business. Santoor, its flagship soap brand, which contributed close to Rs 850 crore in 2008-09 to the company's coffers, became the number one brand in South India in its category.
The company's total income from operations rose 10.7 per cent to Rs 13,697.6 crore.
The Bangalore-headquartered firm had posted a net profit of Rs 1,623.3 crore (Rs 16.23 billion) in the year-ago period, it said in a BSE filing.
IT major Wipro on Friday reported 9.75 per cent increase in consolidated net profit at Rs 1,284.9 crore for the second quarter ended September 30.
Sangita Singh, senior VP and head of Wipro's global IT business strategic unit shares key moments from her 21-year-old career journey and offers lessons in leadership for young professionals.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
Wipro results follow estimate-beating earnings by larger rivals Tata Consultancy Services Ltd and Infosys Ltd .
Wipro Ltd will be allotted 10-12 acres of land in Coimbatore for setting up a centre for its business process outsourcing division.
Wipro BPO, the business process outsourcing arm of soaps-to-IT services player Wipro Ltd, plans to expand its operations in China and the Philippines by opening two more centres in these countries by the end of this year.
IT major Wipro has proposed to establish a software economic zone in Kolkata, according to a top government official.
A day after a woman employee of Wipro Technologies allegedly committed suicide, another software engineer of the firm was found dead at his residence here on Tuesday morning, police said.
Wipro Technologies, the global IT services division of Wipro Limited, has been rated as a top leader among offshore service providers by industry analysts IDC in a comprehensive study of 21 offshore players around the world.
With the appointment of Mahendra Kumar Sharma, former vice-chairman of Hindustan Unilever Ltd, as an independent director of Wipro, it is clear that the tech giant wants to strengthen its corporate governance practices.
Wipro chairman Azim Premji on Thursday called on Prime Minister Narendra Modi.
Incumbent DMK MP T Sumathy alias Tamizhachi Thangapandian will face-off former Telangana Governor and BJP leader Tamilisai Soundararajan, while the the AIADMK has fielded ex-MP Dr J Jayavardhan, who won from here in 2014.
Software major Wipro on Wednesday became the first entity to get the credit rating agency ICRA's highest category 'SVG1' rating for stakeholders value creation and governance practices.
In response, the New York Stock Exchange-listed firm said it has paid the tax and has sought a meeting with Bruhat Bangalore Mahanagara Palike for a discussion on the issue and has a 'strong enough' case in defence.
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The project will improve business functionality at 7-Eleven through the deployment of a consolidated, real-time transactional and reporting infrastructure.
Software majors Infosys and Wipro, who are vying with each other for global information technology outsourcing contracts, have now joined hands to outsmart competitors and win domestic banking contracts.
After disclosing late last year its decision banning Satyam Computer Services, the World Bank said earlier this month that Wipro and another Indian IT firm Megasoft have also been debarred from directly doing business with it under its corporate procurement programme. The Bank had disclosed the ban on Satyam on December 25, while debarment of Wipro and Megasoft was revealed on January 11.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
Both firms have broken TCS' streak of industry-leading performance over the past few quarters by posting higher revenue and earnings growth this quarter.
Plans to increase headcount in the US, mainly in the banking and finance vertical.
Wipro is trying to strengthen its presence in the banking, financial services and insurance (BFSI) segment by increasing its revenue share on par with other leading Indian information technology (IT) service companies.
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