Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced a five-year strategic partnership with Telefónica Germany O2, a leading provider of mobile telecommunications, broadband and landline in Germany.
As a part of this contract, Wipro will work with Telefónica Germany O2 and its wider ecosystem to transform its Business Support Systems and associated Quality Assurance to enable superior customer experience and growth in the B2B market segment. This Radical IT Transformation (RAITT) program brings Wipro and Telefónica Germany O2 together to allow for risk-mitigated self-funded transformation that will benefit both companies.
The RAITT program will ensure that Telefónica Germany O2 is well positioned to modernise and launch a range of new offerings including 5G products and services. As 5G networks and new IoT connectivity solutions start to roll out, this refresh provides not only an essential foundation for the new services but also enables new ways of work at a significantly lower cost of ownership to Telefónica Germany O2. Wipro will also invest in developing a state-of-the-art digital Business Support platform that will fuel Telefónica Germany's growth and provide the company with an outcome-based, committed plan.
Thierry Delaporte, Chief Executive Officer and Managing Director, Wipro Limited said, "This partnership builds on the bedrock of a 15-year relationship. It directly aligns us with Telefónica Germany's growth, and is a great example of how we are building for long-term success in Europe by embracing a collaborative approach with local industry leaders. I am also proud of the work ethic of both teams who made it possible to finalize this partnership during a global pandemic."
"We are pleased to partner with Wipro and benefit from its global experience. Our IT transformation project is a key milestone which will enable us to increase the reliability of our systems, improve customer satisfaction and accelerate innovation as we move towards achieving our goals for B2B customers and common services," said Mallik Rao, Chief Technology Information Officer (CTIO), Telefónica Germany O2
This is a high value and first-of-its-kind engagement for Wipro in the telecommunications space.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 180,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
About Telefonica Germany O2
Telefónica Germany O2 offers mobile and fixed services for private and business customers. With 44 million mobile accesses and 2.3 million broadband connections, the company is one of the leading integrated telecommunications providers in Germany. No other domestic wireless network operator connects more people. Telefónica Deutschland Holding AG has been listed on the Frankfurt Stock Exchange (MDAX) since 2012. In the 2019 financial year, the company generated revenue of EUR 7.4 billion with almost 8,500 employees. The company is majority owned by the Spanish telecommunications group Telefónica S.A.
Forward-looking and Cautionary Statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, 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. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers' ability or willingness to purchase our offerings, delay prospective customers' purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. 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.
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Contacts:
Shraboni Banerjee
Wipro Limited
Shraboni.banerjee@wipro.com
