Wipro Limited Profile

Wipro Limited (Wipro) is a global information technology (IT) services company. Wipro provides outsourced research and development, infrastructure outsourcing, business process outsourcing (BPO) and business consulting services. 

The Company operates in three segments:
 IT Services
 IT Products
Consumer Care and Lighting.

T K Kurien is new Wipro CEO

India's software major Wipro Ltd Friday announced the appointment of T.K. Kurien as the chief executive officer (CEO) of its global IT business and executive director of the company.

In a regulatory filing, the IT bellwether said its joint chief executives Girish Paranjpe and Suresh Vaswani would step down Feb 1.

Kurien is currently chief executive of the company's eco-energy division, a new initiative launched early this fiscal.

"The joint chief executive structure was one of the key factors that successfully helped us navigate the worst economic crisis of our times," Wipro chairman Azim Premji said in a statement here.

Paranjpe and Vaswani have been associated with the company over the last two decades and have been an integral part of the leadership team.

"There is a change in environment, there is a need for a simpler organisation structure. Kurien's track record with customers, passion for excellence, coupled with strategic thinking and rigor in execution make him uniquely positioned to lead Wipro through the next phase 
of growth," Premji said.

The IT Services segment provides IT and IT enabled services to customers. The IT Products segment sells a range of Wipro personal desktop computers, Wipro servers and Wipro notebooks. The Company is also a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software. 


The Consumer Care and Lighting segment manufactures, distributes and sells personal care products, baby care products, lighting products and hydrogenated cooking oils in the Indian and Asian markets. On June 10, 2011, the Company acquired the Commercial Business Services Business Unit of Science Applications International Corporation (SAIC).

LATEST KEY DEVELOPMENTS

Wipro Ltd. To Acquire Analytics Co, Promax Applications Group 

Wipro Ltd. announced that it has signed an agreement to acquire Promax Applications Group, a player in trade promotion planning, management, and optimization solutions space for a total purchase consideration of AUD35 Million. Avendus Capital acted as the exclusive financial advisor to Wipro on this transaction.

Wipro Ltd. Recommends Final Dividend

Wipro Ltd. announced that the Board of Directors of the Company at its meeting held on April 25, 2012, inter alia, have recommended final dividend of INR4 ($0.08) per equity share and ADR (200% on an equity share of par value of INR2). The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company.

Wipro Ltd. Announces Credit Rating Upgrade

Wipro Ltd. announced that Standard and Poor (S&P) have upgraded the Long Term corporate credit rating of Wipro Limited from BBB (outlook positive) to BBB+ (outlook Stable)

Promax Applications Group Enters Into Strategic Partnership With Wipro Ltd.

Promax Applications Group announced its Strategic Partnership with Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Limited, to offer Trade promotions optimization, management and predictive analytics solutions to its Consumer Goods clients across the globe. 

Wipro Ltd. Board Declares Interim Dividend 

Wipro Ltd. announced that the Board of Directors of the Company at its meeting held on January 20, 2012, inter alia, declared an interim dividend of INR2 ($ 0.04) per equity share and ADR (100% on an equity share of par value of INR2). 

Wipro Ltd.'s Wipro Technologies Partners With VendorNet To Provide Retailers Omni-Channel Retail Capabilities 

Wipro Ltd.'s Wipro Technologies announced that it has entered into a strategic partnership with VendorNet, a provider of web-based omni-retailing and supply chain solutions, to solve retailers’ challenges when it comes to synchronizing channels and having a single cross-channel view of inventory. The collaboration involves the resale and integration of VendorNet Commerce Suite with Wipro’s ENCORE e-commerce platform and will help retailers overcome organizational and cultural roadblocks inherent to the adoption of an omni-channel business model. The combined Wipro and VendorNet solutions will provide retailers with a true view of all their sales and fulfillment channels to enable a buy anywhere, anytime customer experience. The combined ENCORE and VendorNet solution will help retailers enhance their operations by linking inventory across channels including online, store, and dropship suppliers to source products from the most efficient locations. 

Wipro Ltd. Fixes Record Date for Interim Dividend 

Wipro Ltd. announced that the record date for the 

proposed interim dividend on January 25, 2012 to determine eligible shareholders who would be eligible to receive the interim dividend, subject to Board's approval.

Wipro Ltd.'s Wipro Technologies Consolidates Structure For Business Operations 

Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Ltd. announced its plans to create a focused global unit called the 'Business Operations Unit', which will enable Wipro to deliver differentiated value for clients with seamless, predictable execution. It will consolidate its Business Application Services, Global Deliver, Quality and IS teams under the newly formed Business Operations Unit.