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Wipro Technologies Limited (NYSE: WIT) is an information technology service company established in India in 1980. HistoryWipro started as a vegetable oil company in 1947 from an old mill founded by Azim Premji's father. When he died in 1966, Azim, a graduate in Electrical Engineering from Stanford University, took on the leadership of the company at the age 21. He repositioned it and created (Western India Vegetable Products Ltd) Wipro Ltd in 1966 into a consumer goods (FMCG) company that was then a $2 million hydrogenated cooking oils/fat company, laundry soap, wax and tin containers and later set up Wipro Fluid Power to manufacture hydraulic and pneumatic cylinders in 1975. Even as Wipro made money, it was a big world for new opportunities. In 1977, when IBM was asked to leave India, Premji decided to enter the information technology sector. In 1979, Wipro began developing it's own computer and in 1981, started selling the finished machine—the first in a string of products that would make Wipro India's one of the first computer makers. The company licensed technology from Sentinel Computers in the United States and began building India's first mini-computers. Wipro hired managers who were not computer efficient, and strong on business experience. They learnt quickly about technology and made IT an extremely profitable venture. Soon Wipro moved in software delivery and started developing customized software packages for their hardware customers. This diversified into the IT business in 1980 and subsequently invented the first Indian 8086 chip. Since 1992 Wipro began to grow it's root off shore in United Stated and by 2000 listed Wipro Ltd ADRs was listed on New York Stock Exchange. OperationsToday it has emerged as a multi business and multi location corporate entity. Its businesses range from Consumer Products, Infrastructure Engineering to specialized IT Products & Services. Recently, Wipro had focused on building its enterprise applications business. Wipro planned to get into the race with the global giants. As being India a highly resourceful country in regards to its man power the business delivery from her was highly economical in comparsion to United States. It is the global IT services arm of Wipro Limited (in operation since 1945, incorporated 1946). It is headquartered in Bangalore and is the third largest IT services company in India[citation needed]. It has 97,250 employees as of November 4, 2008, including its business process outsourcing (BPO) arm which it acquired in 2002. Wipro Technologies has over 300 customers across United States, Europe and Japan including 50 of the Fortune 500 companies. Wipro Technologies has alliances with over 100 firms across the World to provide customers with the highest quality of service. The following companies are examples of successful customers of Wipro: Nokia, Cisco Systems, Toshiba TEC, Symantec, Compaq, Pacificorp, Emerson Appliance, Exel, Sanyo Electric, Intel, Goldman Sachs and Fidelity 24/7. With revenue in the excess of US $5 billion, Wipro is one of India's major IT companies. Wipro Technologies has been assessed at Level 5 of People Capability Maturity Model (PCMM) under the Software Engineering Institute Carnegie Mellon University certification process and it's the first company in the world to win this certification. Wipro is the first SEI CMM Level 5 certified IT Services Company operating in the global market. The Wipro Employee Stock Option Plan (WESOP) allows employees to share in the companies success. It has dedicated development centers and offices across India, (Headquartered at Bangalore, the company has operations in Mumbai, Pune, Chennai, Hyderabad, and Gurgaon.) Europe, (Romania), Egypt, North America, Latin America and Asia Pacific. The current Chairman, Managing Director and majority stake owner is Azim Premji, who has headed the software and hardware divisions since Wipro's inception. Located in over 35 countries with 10 nearshore development centers, Wipro Ltd. has been declared the 4th largest in the world in terms of market capitalization in IT services having a CAGR of 42% in the last 5 years. One of Wipro's newest initiatives is helping companies reduce cost by ‘going green’ with their new Green IT program. Some of the services offered include: reducing overall cost through energy savings, reducing fuel costs by using virtual workspaces, reducing carbon footprints by using their Carbon Footprint Accounting tool, and saving trees through office solutions. External links
Categories: Companies listed on the New York Stock Exchange | BSE Sensex | Software companies of India | Companies listed on the Bombay Stock Exchange | Economy of Bangalore | Outsourcing companies | Business process outsourcing companies of India | Companies based in Bangalore | International information technology consulting firms CommentsNo comments have been added. |
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