Delhi, India - February 17, 2010:
Wipro today announced that it has signed an agreement with CAE Inc to jointly address the growing simulation-based training, operations, maintenance and training support services opportunities for India’s defence forces.
Wipro and CAE will collaborate to provide training systems integration and simulation-based solutions for areas like war gaming, C4ISR and a range of defence platforms expected to be acquired by India’s defence forces. The two companies will also work together to help original equipment manufacturers (OEMs) meet offset obligations in India that are required by India’s Ministry of Defence. Both companies shall provide joint investments, sales support and local production support based on the respective expertise of each company.
“We are committed to enhancing India’s defence capabilities, and part of this commitment involves bringing state-of-the-art capabilities, technologies and solutions to India through collaboration and partnership with global leaders,” said Mr. Partha Sarathi Guha Patra, Vice President, Defence, Security & Offsets for Wipro. “CAE is a recognized leader in training systems integration and simulation technologies, and a company that has made significant investments in India, so we are excited to team with CAE to better serve India’s defence forces.”
Wipro will also work closely with Bangalore-based CAE India Pvt Ltd, which is incorporated in India and is part of CAE’s global family of companies serving the defence market. CAE India is leveraging CAE’s full breadth of simulation products, technologies and capabilities to address the requirements of India’s defence forces.
“The Indian defence market is of strategic importance to CAE and this importance is demonstrated in the investments and strategic relationships CAE has established in India,” said Ash Sarin, CAE’s Regional Vice President, Marketing & Business Development. “Wipro is one of India’s largest and most respected companies, and we are pleased to join with them to address the future needs of defence market in India with world-class simulation and training solutions.”
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and datacenter managed services to corporations 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.
Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' 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 website at www.wipro.com
CAE is a world leader in providing simulation and modeling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe. With annual revenues exceeding C$1.6 billion, CAE employs more than 6,500 people at more than 90 sites and training locations in 20 countries. CAE has the largest installed base of civil and military full-flight simulators and training devices. Through CAE’s global network of 29 civil aviation and military training centres, the company trains more than 75,000 crewmembers yearly. CAE also offers modeling and simulation software to various market segments and, through CAE’s professional services division, the company assists customers with a wide range of simulation-based needs. www.cae.com
Mangala Koti Singhal
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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.