Wipro bags seven-year, $300 million contract from ICICI Bank

आईसीआईसीआई बैंक से विप्रो ने $ 300 मिलियन मे सात साल का अनुबंध किया

Points to Remember:

  • Wipro has secured a seven-year contract valued at $300 million (Rs. 2,160 crore) from ICICI Bank to provide a range of services.
  • The company will also absorb 3,800 employees of Vara Infotech, which currently provides these services to ICICI, along with its existing contracts, facilities and assets for Rs. 321 crore.
  • Vara’s revenue from these services stood at Rs. 221.5 crore in 2018-19.
  • The transaction is expected to be completed during quarter ended 30 September.
  • This is the first major deal that the IT behemoth sealed after its founder Azim Premji handed over the reins to his son Rishad Premji on 31 July.

About Wipro:

  • Wipro Limited is an Indian multinational corporation that provides information technology, consulting and business process services.
  • It is headquartered in Bangalore, Karnataka, India.
  • In 2013, Wipro separated its non-IT businesses and formed the privately owned Wipro Enterprises
  • CEO: Abidali Neemuchwala (1 Feb 2016–)
  • Founder: M.H. Hasham Premji
  • Owner: Azim Premji
  • Subsidiaries: Appirio, Topcoder, Yardley of London, Designit, etc.
Important Possible questions based on above News:
  1. Which IT Bahemoth has secured a seven-year contract valued at $300 million (Rs. 2,160 crore) from ICICI Bank to provide a range of services? Wipro
  2. Who is the incumbent CEO of Wipro? Abidali Neemuchwala

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