Information technology (IT) services company Wipro has won its largest contract to date from US-based human resources (HR) and financial solutions company Alight Solutions LLC.
Wipro, one of the leading IT services company has won its biggest ever contract with HR and financial solutions based company Alight Solutions, based in the US.
As part of the contract, Wipro has announced investing $117 million in Alight and acquiring its Indian unit. Overall the deal is expected to fetch $ 1.6 bn revenue in 10 years.
“This deal will result in revenues of $1.5-1.6 billion for Wipro over the tenure. This is Wipro’s largest win to date,” the company said in a statement
Wipro will now drive the digital transformation of Alight’s offers in the HR, finance solutions, health and wealth along with other services of the company. This deal brings Wipro in the league of Tata Consultancy Services(TCS), which has a collective deal value of more than $5 bn since last year, December.
“We are delighted to be chosen by Alight as their long-term strategic partner in their enterprise transformation journey. This is a testimony to the capabilities we have built through our strategic investments in Wipro Digital, cloud platforms and cognitive platform Wipro HOLMES,” said Neemuchwala in a statement.
“It’s a boost for Wipro and a huge positive for the industry as it indicates that larger deals are still happening in the IT outsourcing industry,” said Pareekh Jain, managing director of global research firm HfS Research.
This deal is definitely going to help increase revenue margins for Wipro this financial year and for many other years to come.