Deal Street Asia — Wipro Ltd’s corporate venture arm Wipro Ventures plans to invest in early-stage venture capital (VC) funds based in the US even as it buys minority stakes in early-to-mid-stage start-ups to help fill gaps in its own range of offerings. Wipro’s $100 million corporate venture arm, overseen by Rishad Premji, son of chairman Azim Premji, has minority stakes in four US-based start-ups; India’s third-largest software services firm has until now shied away from investing in VC funds.
Channel News Asia — MUMBAI: Reigning English Premier League champions Chelsea FC will team up with Indian IT services group Wipro Ltd to help improve its digital media strategy, the two said a day after rival Manchester United made a similar announcement.
PRNewswire — LONDON: Intel, a world leader in computing innovation, and Wipro Limited, a leading global information technology, consulting, and business process services company, today announced that they are joining the International M2M Council (IMC), a global trade association for the growing industry known as the Internet of Things. IMC, which has quickly gained over 10,000 members, comprised almost entirely of OEMs, enterprise users, and applications developers, aims to boost understanding and sales in IoT.
RTN Asia — Open source software has become a critical driver for innovation at leading companies and public-sector organizations around the world, according to a new research report produced by Oxford Economics in partnership with Wipro Limited. The report, The Open Source Era, also shows that open source software is essential to the use of other cutting-edge technologies and that open source methodologies have spread far beyond software development.
RTN Asia — In an announcement that coincided with the release of Tata Consultancy Services’ quarterly results, Wipro Ltd said it has agreed to acquire Designit, a global design firm based in Denmark. The Denmark-based firm specializes in designing user experience, interaction design and product innovation. The value of the transaction was not revealed.
Times of India — NEW DELHI: Microsoft CEO Satya Nadella, Airbus Group CEO Tom Enders, Tata Group chairman Cyrus Mistry, Reliance Industries chairman Mukesh Ambani and Wipro chairman Azim Premji will be among 400 corporate honchos who will attend the launch of the government’s ambitious ‘Digital India’ initiative on July 1. Prime Minister Narendra Modi is expected to launch the logo for the Rs 1.13 lakh crore project using a laser beam in front of an audience of about 10,000 people.
BENGALURU: IT major Wipro today said it has won a contract from T-Mobile Poland to provide integrated applications and infrastructure services. Wipro will improve T-Mobile’s legacy application consolidation and rationalisation, transforming its operating model from application-focus to domain-focus leading to better customer service, the company said in a press release. Over the next five years, Wipro will help T-Mobile systemise and standardise the IT architecture and operations of their Polish entity, the release said, adding that a significant portion of the services would be provided from Wipro’s Delivery Center in Warsaw as a part of their development strategy for Poland.
BENGALURU: Wipro’s former chief business operations officer Satishchandra Doreswamy, who resigned from the company last month following a massive organizational reshuffle at India’s third largest software exporter that led to the appointment of a chief operating officer, has rejoined his former company Tata Consultancy Services, two people directly familiar with the development said. Doreswamy’s new role and portfolio at TCS is still in the process of being finalized and is expected to be known over the next few weeks, the people mentioned above said.
BENGALURU: Wipro said it will defend all pending lawsuits against it after an Indian employee filed a class action complaint against it in a US court, alleging violation of local labour laws. Media reports indicated Wipro employee Suri Payala had recently filed a complaint in Superior Court of the State of California, alleging that Wipro failed to compensate him for over-time and make other wage settlements.
BENGALURU: Wipro has revamped its internal training framework for employees and launched at least three technical training programmes over the past year to reskill its staff in newer areas of technology, especially digital, amid evolving customer needs in a rapidly changing technology landscape. This is part of an organisational overhaul being undertaken at India’s third largest software exporter by CEO TK Kurien with a focus on heavy automation of commoditised service lines and creating a leaner and multi-skilled workforce.
The bloom is coming off the rose for many Indian IT services firms. Over the past decade, India created a wealth-generating “engine” of innovation and an industrialised services model. That disruptive model took the world by storm. It humbled industry giants, bringing once-great firms such as EDS and CSC to their knees and forcing other great firms such as IBM and Accenture to adopt India’s model. Large Indian firms such as Cognizant, Infosys, TCS and Wipro became global leaders. The engine built a $100 billion-plus services industry that sheltered a generation of IT talent and placed India squarely in the centre of the knowledge economy.
BENGALURU/NEW DELHI: Wipro and HCL Technologies joined the list of Indian software companies reporting underwhelming results in a reflection of the industry’s struggles with volatile currency movements and the rapid transformation in the world of information technology. With the effects of cross-currency movements counted, Wipro said revenue in the fourth quarter shrank by 1.2%.
BENGALURU: Wipro is putting in place a new compensation structure for its software and sales teams with a focus on incremental revenue, as part of a push to catch up with larger, faster-growing rivals after lagging industry growth rates the past 3-4 years. India’s third-largest software exporter also plans to create a new unit to tap into digital business opportunities that include new technology areas such as Internet of things, chief executive TK Kurien said on Wednesday during a meeting with analysts.
MUMBAI: After decades of low-margin work like server maintenance, India’s information technology services firms are moving upscale in search of lucrative contracts for driverless cars and other advanced projects as online innovation changes clients’ needs. Companies from Tata Consultancy Services Ltd to Wipro Ltd are all joining Infosys Ltd in investing in new, high-end technology, industry watchers say. Earlier this week Infosys bought US automation specialist Panaya Inc for $200 million.
BENGALURU: Wipro’s investments in next gen programmes, overseen by Rishad Premji’s strategy office, could soon be spun off into a separate entity. Called H2H3 (Horizon 2, Horizon 3), the programme operates like an in-house incubator and fund, identifying potent ideas that have the potential to scale up over a two- or three-year timeframe and generate substantial revenues.
BENGALURU: Wipro has won a $150 million (Rs 900 crore) IT outsourcing deal from the Allied Irish Banks (AIB), one of the big four commercial banks in Ireland. India’s third largest IT services company will provide infrastructure management services (IMS), data centre and hosting services to AIB over five years. “We are excited to partner with AIB in their journey to transform the Bank. We will bring our expertise to build agile and adaptive infrastructure while improving the predictability and cost effectiveness of services,” said Rajan Kohli, senior vice president and global head — banking and financial services in Wipro.
NEW DELHI: Wipro today reported a consolidated net profit of Rs 2,198 crore, up 5.4% QoQ for the third quarter ended December 31, 2014, which was slightly above ET Now estimates of Rs 2,132 crore. India’s third largest software exporter posted a net profit of Rs 2085 crore in the previous quarter, Wipro said in a filing to the BSE today. Wipro closed 0.79% lower at Rs 555.25. It hit a low of Rs 552 and a high of Rs 563.20 in trade today.
A handful of original investors of Wipro, who became shareholders long before the company became a poster-boy of IT (information technology) in the country, are an upset lot. These shareholders, who invested in the 1970s, are opposing the company’s move to take Wipro Enterprises, which was demerged from the software major in 2013, private.
BENGALURU: Battling to regain lost glory, Wipro and Infosys are stepping up their age-old rivalry, this time to out-innovate each other as the two Bengaluru-based software exporters invest in disruptive technologies pegged to artificial intelligence and design thinking to bring greater efficiencies for themselves and their customers. Infosys Chief Executive Vishal Sikka, at an analyst event in Pune on Thursday, said some of his company’s rivals were imitating it and went as far as labeling their moves proverbially as “imitation is the best form of flattery”.
BENGALURU: At Wipro, even company veterans do not expect to meet with chairman Azim Premji on a regular basis. So, it was a surprise for Anand Padmanabhan, head of the vertical that services the energy and utilities sectors, when he was told about a meeting with him in the last week of October. After a 30-minute chat with Premji and chief executive TK Kurien, Padmanabhan emerged a happy man.