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Wipro announces opening of Innovation Centre in London

Posted On: 2021-05-04 11:45:57 (Time Zone: UTC)


Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the setting up of an Innovation Centre in Holborn, London.

Wipro will invest 16million over the next four years in the 20,000 sq. ft. Innovation Centre which will serve as Wipro's flagship centre in the United Kingdom and offer technology expertise to companies in the UK and globally. It will be integral to providing advanced digital, cyber security and cloud expertise to both established and upcoming enterprises, taking the lead on digital transformation in one of Europe's biggest technology markets.

This year marks Wipro's 75th global anniversary, and 25 years in the UK, where it employs over 4000 highly talented technology, digital consulting & business management professionals. The IT services provider has hired over 500 new employees in the UK in the past 12 months and, with the announcement of the Innovation Centre, expects its talent base to increase further over the coming years.

The opening of the Centre acts as the next critical step in serving businesses with world class consultancy on digital, business and IT transformation, and follows the recent announcement of Wipro's acquisition of UK-based Capco for $1.45 billion. This acquisition will add 1300 employees in the UK and will make Wipro one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry.

UK Prime Minister Boris Johnson said, "Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries. I'm very pleased that Wipro has decided to join the legions of Indian companies investing in the UK, boosting our technology sector and driving economic growth."

UK Minister for Investment Gerry Grimstone said, "The UK is an important global base for digital business solutions and London continues to be a leading hub for both business and tech innovation. It's great to see Wipro taking advantage of this and open their Innovation Centre in London - a further commitment to their 25 years in the UK and a boost for the vibrant and growing tech scene that will support our economic recovery."

Thierry Delaporte, Chief Executive Officer and Managing Director, Wipro Limited said, "We are proud to announce a new step on our continued investment in the UK with a new Innovation Centre in London. This enhances our already powerful presence in the region across ten offices and over 4000 employees and will act as an important engine in our drive to boost digital transformation in Europe."

"The pandemic has disrupted lives and businesses everywhere. There is a positive role for technology to play as we rebuild. At Wipro, we believe in technology's ability to support communities everywhere and drive the sustainability agenda."

Pierre Bruno, Chief Executive Officer - Europe, Wipro Limited said, "London is a hub of digital excellence. Our new Innovation Centre will draw on the immense talent, digital expertise and innovative potential available here. We are continually impressed by the drive of the UK's digital economy. Digital transformation is no longer an option. As we have seen, digitalisation of businesses has rapidly accelerated and it's those businesses who can adapt and in-build resilience who will succeed. In addition to the digital transformation solutions we offer now - from cloud-first solutions to cybersecurity and 5G services - our new Innovation Centre will help us to continue to develop solutions for the future including galvanizing the adoption of new skills and technologies by companies to innovate and re-imagine their products and services, improve operational efficiencies, and drive customer and employee delight, thereby transforming their ability to compete and thrive in the market."

Wipro has established a powerful presence in the United Kingdom in recent years, boasting ten offices across the region, including a Cloud studio in London and a Cyber Defense Centre in Reading.

Shares of WIPRO LTD. was last trading in BSE at Rs.481.85 as compared to the previous close of Rs. 487.5. The total number of shares traded during the day was 469869 in over 10880 trades.

The stock hit an intraday high of Rs. 487.5 and intraday low of 477.8. The net turnover during the day was Rs. 226591158.


Source: Equity Bulls

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