Bangalore, India - June 10, 2010:
IT major, Wipro Ltd, and leading automobile and parts distribution specialist, TV Sundram Iyengar & Sons, today announced that they have signed a 10-year Total Outsourcing contract.
The partnership aims at leveraging the power of Information technology to drive business efficiencies across all business units and functional areas of TVS & Sons. Wipro, with its credentials in the automotive, retail domains coupled with its experience across large transformational IT engagements, will deliver a world class, scalable and agile IT landscape, aligned with the business objectives of TVS & Sons.
The scope of services includes the comprehensive suite of IT infrastructure and applications across the enterprise. In the initial transformation phase, Wipro will reengineer the current IT systems to achieve business IT alignment, backed by best-in-class processes and tools. The second phase covering operations and maintenance, would involve application and infrastructure support at the Data Center, and facilities management across 82 locations for 10 years. The engagement would be governed by a unique mix of milestone-based, business outcome-based and operations-based Key Performance Indicators (KPIs).
Speaking on the occasion Mr. R Dinesh, TVS & Sons said "We see Business-IT alignment as the key driver for achieving business transformation. An integrated IT landscape will not only enable seamless information flow but will also help achieve high performance and scalability in our operations. We are delighted to be partnering with Wipro for this engagement, given Wipro's consistent track record, leadership position in India, and strong IT and people processes."
Senior VP and Business Head, India and Middle East, Wipro, Anand Sankaran said, "It is our privilege to be associated with TVS &Sons in this engagement. We expect this partnership to provide the growth platform for TVS & Sons to continue their leadership in the highly competitive automotive distribution business by leveraging world class IT practices. We shall bring to bear our deep domain knowledge, years of experience in the IT space and knowledge of global best practices, to help TVS achieve new milestones in business operations and customer service.
About TVS & Sons
TVS & Sons distributes Commercial Vehicles, Utility & Sports Utility vehicles, Passenger Cars representing various leading automobile vehicle manufacturers such as Ashok Leyland, Daimler Chrysler, General Motors, Honda, and Mahindra & Mahindra. The company has more than 150 outlets and sells over 50,000 vehicles, and services more than 5,00,000 vehicles per annum, being the leading automobile distribution company in India. The company is also the largest distributor of automobile spare parts in the country, handling more than 80 suppliers, 5,000 manufacturers and 35,000 part numbers. "MyTVS” is the multi-brand, integrated, after-market Car services business division providing regular / periodical maintenance services through MyTVS All Car Service, Emergency Roadside Assistance through MyTVS 24x7 Emergency Services and complete car body repair facility through MyTVS Collision Repair Services.
About Wipro Infotech
Wipro Infotech, a division of the US $6 billion Wipro Limited, provides enterprise customers with high value Information Technology Products, Software Services, Solutions and Consulting Services in India and the Middle East. Headquartered at Bangalore, Wipro Infotech serves customers in India through a network of 22 offices and 170 service locations across the country. It also has regional offices across the Middle East serving the region.
About Wipro Ltd
Wipro Limited provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro also has profitable presence in niche market segments of consumer products and lighting. Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange.
For more information, please visit our websites at www.wipro.com, www.wiprocorporate.com, and www.wipro.in.
Wipro's forward looking and cautionary statements
Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
TVS & Sons Contact
Name: V A R Suresh
Agency Contact for Wipro
K2 Communications Pvt Ltd
Sandhya Shama Rao