Wipro Bags Deal Over $1.5 Billion From Alight Solutions
Information technology services major Wipro Ltd. said that it has won a deal valued over $1.5 billion from Alight Solutions LLC. This is the company’s biggest deal till date.
Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services to the Illinois-based Alight Solutions that provides technology-enabled health, wealth, human resources and finance solutions.
“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,” Wipro said in a statement.
This engagement will enable the digital transformation of Alight's offerings and enhance the employee experience of Alight's clients by leveraging Wipro's strengths in digital technologies, cognitive automation and data analytics, it added.
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.Chris Michalak, CEO, Alight Solutions
Wipro’s larger peer Tata Consultancy Services Ltd. has bagged three large multi-year deals totaling over $5 billion in revenue since December 2017.
The current deal will come as a shot in the arm for the Bengaluru-based firm, which saw its first quarter profits this fiscal grow over 2 percent to Rs 2,120 crore and revenue rising 4.72 percent to Rs 14,307 crore as compared to the previous year.
Wipro CEO and Executive Director Abidali Neemuchwala said the deal reflects the capabilities the company has built through strategic investments in Wipro Digital, cloud platforms and cognitive platform Wipro HOLMES.
We will leverage this expertise to digitise and modernise Alight’s core across platforms, technologies and operations.Abidali Neemuchwala, CEO and ED, Wipro
In July this year, Wipro had partnered Alight Solutions to take over the latter's captive operations in India - Alight HR Services India - for $117 million.
In a separate exchange filing today, Wipro said “the transaction has been completed on August 31, 2018.”