Bangalore - June 4, 2010: Wipro Infotech, the India and Middle East IT Business of Wipro Ltd and a leading provider of IT and business transformation services, today announced that it has been named the leader in the Managed IT Services market by Springboard Research, a leading Market Research firm. The report titled “Indian Managed IT Services Market,” provides comprehensive insights and practical outcomes for the Indian managed IT services market from an end-user and supplier perspective.
According to the report, the IT managed services market in India is expected to reach US$3.8 billion in 2013 from US$1.6B in 2009, growing at a CAGR (compound annual growth rate) of 22.8% - higher than the growth rate of overall IT services market. As per the report, Wipro has the highest market share in India.
Wipro’s significant focus on large customer acquisitions with specific domain centric solutions has catapulted the company in to the leadership position in Managed Services. Wipro has built a healthy pipeline across industry verticals and strengthened its presence by winning strategic deals and launching new solutions.
The year 2009 saw some marquee wins and multi-year deals being signed by Wipro, the most visible of them being, a multi-million dollar outsourcing contract from Unitech Wireless (A Unitech Telenor company) and another from Lavasa for developing India’s first and complete e-city. In October last year, Wipro also won a 10 year total outsourcing deal from Delhi International Airport (P) Limited (DIAL) to provide world class IT Infrastructure and Services for Indira Gandhi International Airport (IGIA), New Delhi. In the government space, Wipro won a large e-governance contract from Employee State Insurance Corporation (ESIC) for automating healthcare administration benefiting millions. Some other key wins include two mission mode projects under the National e-governance plan (NeGP) for Maharashtra and Gujarat State Data Centers.
“These significant and transformational deals, demonstrate Wipro’s growing maturity in the domestic market. We are pleased with the findings of Springboard Research which is testimony to our superior delivery capabilities, process maturity and governance frameworks in managing large, complex and multi technology environments, effectively,” said Kiran Desai, Vice President, Managed IT services, Wipro Infotech.
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.
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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.
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