Budapest, Hungary and Bangalore, India - December 13, 2010:
Wipro Technologies, the Global Consulting, System Integration and Outsourcing Business of Wipro Limited (NYSE:WIT), today announced the opening of a new development center in Budapest, Hungary.
The Wipro center was set up to primarily service the transformational program of Magyar Telekom (MT), which will enable the latter to improve efficiency in customer experience and increase market agility. Earlier this year, Wipro had signed a multi-year transformational deal with Magyar Telekom (a subsidiary of Deutsche Telekom), the largest telecom service provider in Hungary. This strategic move leverages Wipro’s proven global transformation capability and more importantly, enables a complete range of business and technology services to be delivered, closer to the customer.
Mr. Jack Smies, Vice President and European Head of Global Media and Telecom, Wipro Technologies said, "We are fully committed to our relationship with Magyar Telekom. This important investment complements our longer term goals in the region; delivering services in closer proximity to our clients and leveraging the local talent pool better. The net result will be services delivered locally, set against global best practices that, when combined, will deliver a successful transformation program at Magyar Telekom."
Mr. Christopher Mattheisen, Chairman and CEO of Magyar Telekom said, "Magyar Telekom has been working with Wipro for over three years on a variety of projects. We are pleased to see this expansion as a sign of their commitment to the success of the transformation project."
Mr. Gergely Lukácsy, Investment Director of ITD Hungary - the government’s investment and trade promotion agency said, "We welcome Wipro’s decision to set up its service center in Hungary. No doubt, this unique investment will prompt other technology companies from India to consider Hungary as a potential venue for their investments in Europe."
This new development center of Wipro Technologies in Budapest will strengthen the company’s platform for continued growth in Europe. With the launch of this center, the number of Wipro centers in Eastern Europe including Romania and Poland, now stands at four and complements the over 20 Wipro delivery centers already active in Europe.
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 systems integration, network integration, software solutions and IT services.
Wipro also has a strong 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
About Magyar Telekom
Magyar Telekom is Hungary's biggest provider of telecom services. It provides a full range of telecommunications and infocommunications (ICT) services including fixed line and mobile telephony, data transmission and non-voice as well as IT and systems integration services. The company’s products are offered under the home-related services brand T-Home, the mobile communications brand T-Mobile and the business services brand T-Systems.
Magyar Telekom is the majority owner of Makedonski Telekom, the leading fixed line and mobile operator in Macedonia and it holds a majority stake in Crnogorski Telekom, the leading telecommunications operator in Montenegro. Magyar Telekom's majority shareholder (59.21%) is MagyarCom Holding GmbH, fully owned by Deutsche Telekom AG.
For further information visit www.telekom.hu
ITD Hungary's main activity is trade development and investment promotion. It achieves this through a combination of events (networking conferences, seminars, business tours, etc.), individual consultation and promotional brochures. To help Hungarian small and medium sized enterprises (SMEs) to succeed in international markets, ITD Hungary co-ordinates the Hungarian activities of the Enterprise Europe Network supported by the European Commission's Enterprise and Industry Directorate.
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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.