The Indian software services exporter Wipro has won its largest contract every worth more than $1.5bn in a deal to provide digital services to the US-based Alight Solutions.
The firm, which is one of India's top IT companies, said that it would earn $1.5-$1.4bn in revenues from the deal. Under the terms of the agreement, Wipro will provide services in health, human resources and finance for Alight Solutions.
The Indian company also announced this summer that it would buy Alight Solutions' operations in its home country for $117m in cash with the deal expected to be completed during the quarter ending in September.
Wipro's shares went up following the news to hit a seven-month high, gaining as much as 2.53 per cent. The firm expects revenue from its IT services business to be in the range of $2.01bn to $2.05bn for this quarter.
Chief Executive Officer and Executive Director at Wipro, Abidali Z Neemuchwala praised the deal with Alight Solutions in a statement, saying:
“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. 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 digitalize and modernize Alight’s core across platforms, technologies and operations.”
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