If it was Infosys that found a place in the bestseller, ‘The World is Flat’ by New York Times columnist Thomas Freidman; the cooking oil company turned IT giant Wipro too has an admirer – Steve Hamm, Business Week’s Software Editor. He has penned an entire book on Wipro’s key success principles titled, Bangalore Tiger. Indian companies have truly gone places! Inorganic growth has been the core to Wipro’s long term growth in the recent past. “As part of our global strategy, comprising organic and inorganic growth, we have signed a deal with Nokia Siemens Networks in Germany to provide all radio access R&D activities performed by the latter,” says Azim Premji, Chairman, Wipro.
“Infocrossing buyout is strategic to us as it helps to position ourselves as a key player in the next orbit of large total outsourcing deals,” Premji noted. Well, Wipro was cash-light by $600 million when it acquired US based Infocrossing in August this year. No sooner did Wipro acquire Infocrossing, the new entity bagged a $275 million multi-year outsourcing deal to provide BPO and IT services. The company also announced strategic partnership with Oki Electric Industry of Japan to acquire its Singapore subsidiary - Oki Techno Centre, including its IPRs. The gamble played in the last couple of years has started bearing fruit as the “acquisitions of the company contributed Rs.25.4 crores to revenues,” read the second quarter result filing by Wipro. Strive for continuous improvement, obsessed with customer satisfaction and the man they call Azim Premji, have been the key to Wipro’s success, says Steve Hamm. Well, we don’t disagree either!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
“Infocrossing buyout is strategic to us as it helps to position ourselves as a key player in the next orbit of large total outsourcing deals,” Premji noted. Well, Wipro was cash-light by $600 million when it acquired US based Infocrossing in August this year. No sooner did Wipro acquire Infocrossing, the new entity bagged a $275 million multi-year outsourcing deal to provide BPO and IT services. The company also announced strategic partnership with Oki Electric Industry of Japan to acquire its Singapore subsidiary - Oki Techno Centre, including its IPRs. The gamble played in the last couple of years has started bearing fruit as the “acquisitions of the company contributed Rs.25.4 crores to revenues,” read the second quarter result filing by Wipro. Strive for continuous improvement, obsessed with customer satisfaction and the man they call Azim Premji, have been the key to Wipro’s success, says Steve Hamm. Well, we don’t disagree either!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)
