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Wipro wins largest ever contract, tops $1.5B

Wipro wins largest ever contract, tops $1.5B

Shares of the IT firm hit a seven-month high following news

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Software services exporter Wipro has won its biggest-ever contract worth more than $1.5 billion with U.S.-based Alight Solutions LLC for digital services.

Wipro, one of India's top IT firms, said it would earn US$1.5-1.6 billion in revenues over the tenure of the deal, which will include services in health, human resources and finance for Illinois-based Alight Solutions.

“We are delighted to be chosen by Alight as their long-term strategic partner in their enterprise transformation journey to bring digital experiences and offerings to employees and employers globally,” said Abidali Z. Neemuchwala, CEO of Wipro.

“This is a testimony to the capabilities we have built through our strategic investments in Wipro Digital, cloud platforms and cognitive platform Wipro Holmes.

“We will leverage this expertise to digitalise and modernise Alight’s core across platforms, technologies and operations.”

In July, the Bengaluru-based firm had said it would buy Alight Solutions' India operations for $117 million in cash - the deal is expected to be completed in the quarter ending September.

“Our industry-leading partnership with Wipro will enhance our client experience by drawing on Wipro’s leading position in automation and innovation, while allowing Alight to invest in its health, wealth and cloud-based solutions to meet the needs of our clients,” added Chris Michalak, CEO of Alight Solutions.

Shares of the IT firm hit a seven-month high on Friday, gaining as much as 2.53 percent to 306.5 rupees.

Wipro has previously said it expected revenue from its key IT services business for the quarter ending September to be in the range of US$2.01 billion to US$2.05 billion.

(Reporting by Neha Dasgupta and Sankalp Phartiyal; Editing by Kim Coghill)


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