Subject to customary regulatory approvals, the acquisition is expected to be completed during the quarter, the Bengaluru-headquartered company said. Financial details of the transaction were not disclosed.
The Bangaluru-based firm has forecast third quarter revenue from its IT services unit in the range of $1.5-1.53 billion.
Wipro, the $5 billion company with interests in IT services, consumer care, lighting and furniture, is entering a new set of businesses which will enable the company to leverage its growth on the clean energy and agriculture sectors. The company is readying a plan to include alternate energy, water treatment, food and agriculture businesses under its infrastructure business - Wipro Infrastructure Engineering Limited.
From the Sensex basket, Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, and Larsen & Toubro were the major laggards. Titan Company, Hindustan Unilever, HDFC Bank, Maruti, ITC, Power Grid and Reliance Industries were the gainers.
In a top level reshuffle, software services major Wipro on Thursday appointed Soumitro Ghosh as head of Wipro Infotech replacing Senior VP and Business Head of Global Infrastructure Services Anand Sankaran, who quit the company hours before the rejig was announced.
In a massive top-level reshuffle last week, Wipro, India's third-largest IT services firm, announced the exit of Anand Sankaran who was handling a major chunk of the company's overall business.
Bhanumurthy B M, president and chief operating officer, Wipro, tells Ayan Pramanik and Raghu Krishnan that service delivery through digital technology-enabled platforms will change the business dynamics for the company.
Wipro Technologies, the IT services division of Wipro Ltd, said on Wednesday that it has become the first company outside the US to be conferred with Software Process Achievement
Sensing potential in the remote infrastructure outsourcing market, Wipro Technologies is investing heavily in the business and will soon open a centralised global command centre in Bangalore.
Cognizant derived 41 per cent of its revenues from financial services.
Ashutosh Vaidya, head, Wipro BPO Solutions, and Deepak Jain, head, Technology Infrastructure Services, have put in their papers, said the sources. The reasons for the resignations could not be confirmed.
Wipro will be implementing the core banking solution for Paytm.
Wipro Ltd named T K Kurien president of Wipro HealthScience. Kurien will report into Vivek Paul, vice chairman.
Revamp zeroes on consumer brands facing stiff competition, slower growth.
Wipro Ltd on Wednesday clarified that company Chairman Azim Premji had stated in Mumbai that the IT major would consider accessing the capital markets only if the need for funding large acquisitions arose.\n\n\n\n
Software services major Wipro on Wednesday said its BPO has been rated among the top global Finance and Accounting (F&A) service providers by analyst firm HfS Research.
Wipro and Tata Power are among the world's most ethical companies, according to American think tank Ethisphere Institute.
The company has also expanded its SAP services in the utilities industry, supply chain management and customer relationship management domain.
An Indian woman employee at the London office of IT major Wipro has filed a 1 million pounds compensation case of sexual discrimination.
From the Sensex basket, Mahindra & Mahindra, Maruti, Tata Steel, Bajaj Finserv, Power Grid, Reliance Industries, Axis Bank and JSW Steel were the major gainers. Wipro, Nestle, HDFC Bank and Bajaj Finance were among the laggards.
Banerjee was one of the people instrumental in shaping the future of Wipro's IT business in its early days.
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
"Three-five years is the ideal time frame for a CEO to continue in the same position in a company," says Girish Paranjpe.
According to the 18th version of Greenpeace's Guide to Greener Electronics, Wipro has topped the list of 16 electronic companies across the world based on their commitment and progress in three environment criteria: energy and climate, greener products and sustainable operations.
Wipro is poised for double-digit growth in the coming years as the US market is recovering and consumer spending improving, Chairman Azim Premji said.
Wipro has been quite aggressive among Indian IT services companies in acquisitions as a strategy to buy the capabilities in emerging technologies.
One of the good things about our business is, if customers are under pressure and in a cost-cutting mode, we are able to provide more efficient solutions.
Wipro Chairman and CEO Azim H Premji received the highest annual remuneration in the company for the fiscal 2006-07. Premji who also holds 79.58 per cent stake in the company, got an annual remuneration of $721,522.
A chess buff, Neemuchwala enjoys volunteering, travelling, Indian music, reading fiction, and golf.
Bengaluru-headquartered Wipro has decided to elevate Chairman Azim Premji's elder son Rishad as the chief strategy officer (CSO) of its information technology (IT) business from January 1, 2011.
Plans to enter the Southeast Asian market through acquisition.
Company aims to cross $1 billion in revenue for its BPO business.
No financial details of the deal were disclosed.
Under the terms of the alliance, Wipro Technologies will work with Unisys to jointly provide deskside and hardware support services and multi-lingual service desk services for global customers.
Wipro continues to retain the top position with a disclosure score of 98/100.
Infrastructure major HCC's realty arm, Lavasa Corporation, that has floated a firm, MyCity Technology, in partnership with IT major Wipro, today tied-up with networking leader Cisco to provide Information and Communication Technology services in the newly-created Lavasa city.
