Wipro wins $1.6 bn, 10-year project from US-based Alight Solutions
03 Sep 2018
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Wipro Ltd, India’s fourth-largest information technology company, has won a 10-year $1.5-billion deal from the Illinois-based Alight Solutions, which is also Wipro's largest, translating into revenues of $1.5 -1.6 billion over a decade, the company said in a statement.
Wipro said its long-term association with Alight Solutions, a leader in technology-enabled health, wealth, HR and finance solutions, will reshape the HR services industry by providing Alight’s clients with the breadth and depth of capabilities from the two industry-leading organisations.
“The strategic partnership will enable Alight to accelerate investment in consumer-facing technologies and services across its health, wealth and cloud businesses by leveraging Wipro’s industry-leading strengths in automation, machine learning and data analytics,” Wipro stated.
Abidali Z Neemuchwala, Chief Executive Officer and Executive Director, Wipro, said this long-term partnership will help Alight in its business transformation journey. Alight provides benefits administration and cloud-based HR and financial solutions.
“Wipro’s deal win is significant because most outsourcing deals are shrinking both in value and duration,” Neemuchwala added.
Starting next year, Wipro is assured of at least $150 million in annual revenue, which is also a shot in the arm for business-starved CEO Abidali Neemuchwala, who since taking over in February 2016 has been trying to put Wipro back on the growth path.
The contract that will bring in revenues of $1.5-1.6 billion over the 10-year term on the contract, is the largest since Wipro won a more than $1.1 billion order from Canadian logistics firm ATCO in June 2014.
Since December last year, Wipro’s larger rival, and Neemuchwala’s former employer, Tata Consultancy Services Ltd (TCS) has won three such multi-year mega-deals, which together bring in over $5.6 billion in revenue. This has made the TCS management confident of achieving double-digit growth in the current financial year.
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