Dubai, UAE - February 21, 2011:
Wipro, the global IT services major and a leading provider of IT and business transformation services announced today, the commencement of its eleventh year of operations in the Middle East. After a humble start a decade ago, the company today ranks among the leading IT services players, enjoying a commanding position in key markets of the region.
Wipro began operations in UAE and Saudi Arabia in 2001 and today has a presence spread across Sharjah, Abu Dhabi, Kuwait, Qatar, Al Kobar, Riyadh, Jeddah and Bahrain. With over 1300 employees servicing the region and 100 plus customers, the company has emerged as a strategic IT partner to some of the biggest names in the region. The company has two near shore development centers in the region in Dubai and Egypt to service customers in the Middle East. In Saudi Arabia, the largest market in the region, the company has a successful joint venture called Wipro Arabia Limited (WAL) between Wipro Ltd and Dal Al Riyadh for servicing clients in Saudi Arabia.
Speaking on the occasion, Anand Sankaran, Senior Vice President and Business Head, India, Middle East and Africa, Wipro said, "Middle East has proved to be the growth engine for Wipro among emerging markets. In the last three years, our compounded annual growth rate in the Middle East has been close to 100 per cent in terms of revenues, and we expect the momentum to continue. We are also looking at expanding our presence further in the region, as we see fresh opportunities coming up in Kuwait and Qatar."
The region is seeing investments in Infrastructure, Banking, Telecom and Oil and Gas. The government sector is also propelling growth with investments in education and healthcare.
Among Wipro's prestigious clients are King Abdullah University of Science and Technology (KAUST) where the company has implemented a turnkey ERP-Student Life Cycle Management solution – first of its kind in the industry. For Saudi Arabian Airlines, the company is managing their entire IT infrastructure and applications, end to end. Yet another prestigious engagement is with the Road Transport Authority (RTA), Dubai where Wipro is managing their IT environment including Data Center, networks, security and RTA's Customer Portal accessed by general public for all eServices.
About Wipro Ltd
Wipro Limited (NYSE:WIT) 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
Sandhya Shama Rao
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.