It has done so through its investment arm Wipro Ventures. This marks Wipro’s first investment in a venture capital firm. The move potentially gives the outsourcing firm access to a portfolio of early-stage enterprise and security ventures in one of the world’s most fertile startup ecosystems.
The company’s application will be considered by the inter-ministerial body, Board of Approval, headed by Commerce Secretary Rita Teaotia, in its meeting on June 22. Wipro has proposed to set up IT/ITeS SEZ over an area of 19.76 hectares in Kolkata.
The deal is to transform the company’s customer service and retail billing capabilities. No financial details were disclosed. Thames Water, which is the UK’s largest water and wastewater services provider, serves 15 Mn customers in London and the Thames Valley region. A significant objective of this transformation programme is to enable Thames Water compete effectively in the new Open Water deregulated market.
Software major Wipro has tied up with Verveba, a telecom network engineering company, for providing advanced mobile radio network optimisation solutions. The companies will work together on business development activities and expand solutions to the Telecom Service Providers globally. Verveba is recognised for its world-class multi-vendor expertise in implementing in-building solutions (IBS), Wi-Fi and LTE, among other things.
Altizon Systems has raised $4 million in Series A funding from Wipro, Lumis Partners, the Hive and Infuse Ventures. Wipro invested Rs 9. 78 crore in the Pune-based startup and acquired a minority stake. The transaction will be completed by February 10th. The raised funds will be used for sales and marketing in both India and international markets. Altizon, a big data and IoT startup earned revenues of around Rs 30-40 lakhs in 2014-15 financial year.
Wipro Ventures has picked up a minority stake in Pune-based big data startup Altizon Systems Pvt Ltd for Rs 9.78 crore as part of a Series A funding round. Altizon plans to use the funds to scale up sales and marketing functions both in India and internationally. Altizon’s big data platform will align with Wipro’s IoT platform. The startup was named as one of the finalists in the Top Innovation category at the ET Startup Awards in 2015.
Wipro has acquired Viteos Group for $130M in an all-cash deal. Viteos, founded in 2003, has 400 employees and posted $2M in revenue for 2014-15. The management team at Viteos will continue with the business and drive the platform-based outsourcing business services. This is the Indian IT firm’s third takeover since July.
Wipro warned investors on Wednesday that heavy flooding in Chennai would hit revenues and operating margins for the quarter ending on Dec. 31. Wipro employs 22,000 people across Chennai. Rival TCS warned on Friday that the floods would have a “material impact” on its third-quarter revenues. TCS employs 65,000 people in Chennai, roughly a fifth of its total. Wipro said in a statement that revenues for the quarter ending on Dec. 31 would be in the lower half of its $1.84 billion to $1.88 billion range, while it would also book a one-off cost.
IT giant Cisco intends to invest $240 Mn in the startup space in India. The company is planning to work with startups, accelerators, developers, researchers, ecosystem partners and VCs. Moreover, the company is interested in startups working on products that have global appeal in sectors like cloud computing, mobile technologies and IOT sectors. Recently, many IT giants including Infosys & Wipro have shown interests in the startups arena.
The all-cash deal is expected to close in the March 2016 quarter, Wipro said in a filing to the BSE. The shares are being acquired through Wipro’s subsidiary Wipro Cyprus. Founded in 2002 in Germany, Cellent has offices in Germany, Austria and Switzerland. Its service portfolio includes SAP consulting, software development, managed services and infrastructure services. It had revenues of 87 million euros in 2014 and has over 800 consultants. The acquisition will provide Wipro with significant scale in the DACH region, Wipro’s NS Bala said.