Bangalore, India - November 10, 2011:
Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Limited (NYSE: WIT), has today announced the consolidation of its India and Global IT Infrastructure Business to form a New Business Unit called Global Infrastructure and Services (GIS).
One of the cornerstones of Wipro’s success over the years has been the leadership in its Infrastructure Services business. Infrastructure Services have been a high growth, high impact segment and the market is poised for the next level of transformation with increased focus on variabilization of IT.
TK Kurien, CEO, IT Business and Executive Director, Wipro Ltd. said, "We see tremendous value in establishing global practices, integrated delivery, program governance and global career opportunities for our teams. A single entity across the globe will further accelerate our growth in the infrastructure business and build on our leadership position."
Anand Sankaran, SVP, Head Wipro Infotech and Global Infrastructure and Services, Wipro Technologies said, "Wipro is now better positioned in the infrastructure services market through its global footprint, comprehensive alliance ecosystem, system integration proposition and transformational capability. The new consolidated structure will help Wipro maximize value delivered to clients globally through our best of breed service innovation and research efforts."
To bring in common direction and leadership, Anand Sankaran will lead the Global Technology Infrastructure Services business, in addition to his current responsibility as Head of Wipro Infotech. As a result of the consolidation Deepak Jain would work closely with Anand Sankaran to build and execute strategies to enable Wipro’s leadership in the global Infrastructure services market, which is currently estimated to be USD 250bn.
About Wipro Technologies
Wipro Technologies, the global IT Business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology” – helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner’s approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has 120,000 employees and clients across 54 countries. For more information, please visit www.wipro.com
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Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects 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 fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain 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, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and 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. We 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. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.