Riyadh, KSA - December 5, 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 Kingdom of Saudi Arabia (KSA). The company which began its operations in the middle-east region in 2001, today ranks among the leading IT services players, and enjoys a commanding position in key markets of the region.
Wipro entered the region in partnership with Dal Al Riyadh in Al Khobar, a well diversified group in Saudi Arabia. Wipro strengthened this partnership by forming a joint venture with Dal Al Riyadh, laying the foundation for future growth and success in the region. The joint venture company, Wipro Arabia Limited (WAL), today serves customers across the Kingdom of Saudi Arabia with regional offices in Al Khobar, Riyadh and Jeddah. With over 750 employees servicing the region and 60 plus customers, the company has emerged as a strategic IT partner to some of the biggest names in KSA. Wipro also has a Development Centre in Al Khobar to support customers in Saudi Arabia as well as to nurture and develop local talent.
Speaking on the occasion, Prince Turki Bin Abdullah Bin Abdulrahman, Chairman, Wipro Arabia Ltd said "Wipro has a committed localization policy with almost 38% of employees being Saudi nationals. The company has contributed significantly in terms of building an IT base in the Kingdom catering to requirements across Saudi Arabia."
Azim Premji said, "We are very pleased with where we are after the first decade of our operations in KSA. Given the scope of our engagements, we are looking to increase employment opportunities for both men and women in the region, in the years to come. Localization is a key driver of our growth strategy."
Anand Sankaran, Senior Vice President and Business Head, India, Middle East and Africa, Wipro said, "The Kingdom of Saudi Arabia has proved to be the growth engine for Wipro among emerging markets. In the last four years, our revenue from KSA has grown at a Compounded Annual Growth Rate (CAGR) of upwards of 80%. We continue to be positive about the growth potential of this region."
The region is seeing investments in Public Sector, Oil and Gas, Banking and Telecom. The government sector is also propelling growth with investments in Education and Healthcare.
Among Wipro's prestigious clients are Saudi Arabian Airlines where the company has signed a 5 year transformational deal to build IT Infrastructure including Data Centers and manage the entire IT infrastructure, end to end. For King Abdullah University of Science and Technology (KAUST), the company has implemented a turnkey ERP-Student Life Cycle Management solution. Yet another prestigious engagement is with Atheeb Telecom where Wipro has entered into a five year partnership for deploying an end-to-end IT solution covering OSS/ BSS and underlying infrastructure components.
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.