Bangalore, India and Jersey City, NJ, USA - May 7, 2013:
Wipro Limited (NYSE:WIT) today announced that it has signed an agreement to enter into a strategic partnership and take a minority position in Opera Solutions, LLC, a leading global Big Data science company. Wipro will invest USD 30 Million in the company, which is privately held and headquartered in Jersey City, NJ.
Big Data represents an unprecedented opportunity for business value creation but many enterprises do not have the right technology or the science to access its power. Opera Solutions supplies these critical capabilities in a form that allows organizations to rapidly turn raw Big Data into strategic advantage, profit, and productivity.
Opera Solutions has one of private industry's largest groups of scientists specializing in machine learning. The company applies its machine learning science to the world's Big Data flows to extract predictive patterns, or Signals. It offers a range of solutions, delivered as a service, that turn these Signals into prescriptive "best actions" that significantly improve front-line productivity and bottom-line growth. Its solutions include its Consumer Signal Hub™ and related Signal Apps for marketers and SignalSensor™, which extracts threat and other sentiment from the world's flow of open source online data, as well as other solutions for financial services, capital markets, procurement professionals, and the healthcare industry.
"This strategic partnership with Opera Solutions will help us further extend our leadership in the Big Data analytics space, as it combines Opera Solutions' machine learning expertise, pre-discovered predictive Signals and algorithms with Wipro's proven domain and technology expertise combined with Global Delivery Model to create industry-specific Big Data analytics solutions. It also enables our customers to maximize the ROI of Big Data analytics implementation through faster adoption," said K.R Sanjiv, Senior Vice President and Global Head, Analytics and Information Management, Wipro.
Arnab Gupta, Chief Executive Officer of Opera Solutions said, "We are delighted to be entering into a strategic partnership with Wipro, which is the partner of choice for global businesses seeking to leverage information as a strategic asset to improve business outcomes and win in the marketplace. Both Wipro and we see a great fit between Wipro's ability to deliver end-to-end services and Opera Solutions' ability to scale and industrialize Big Data science. And by partnering with a global organization with a broad, blue-chip client roster, we greatly enhance our ability to capitalize on the exploding demand for Big Data science solutions."
Wipro is a leading provider of analytics and information management solutions- enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management. Wipro works with customers to develop end-to-end analytics and information strategy leveraging process assets and solutions based on analytics, business intelligence, enterprise performance management and information management.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro 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 has over 140,000 employees and clients across 54 countries. For more information, please visit www.wipro.com.
About Opera Solutions
Opera Solutions (www.operasolutions.com); (@OperaSolutions), provides Big Data predictive and prescriptive analytics, delivered as an ongoing service, to businesses and government globally. With approximately 200 machine learning scientists among its 700 employees, Opera Solutions is a global leader in using advanced techniques to extract value from Big Data. Its solutions, software, and services combine science with technology and domain expertise, providing new, Big-Data-fueled pathways to profit and productivity. Opera Solutions is headquartered in Jersey City, NJ, with other offices in North America, Europe, and Asia.
Phone: + 91-80-39916143
Forward-looking and Cautionary Statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties 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, including, but not limited to, Annual Reports on Form 20-F. 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.