|By Business Wire||
|May 14, 2014 09:09 AM EDT||
Wipro Ltd. (NYSE:WIT), a leading global Information Technology, Consulting and Outsourcing company, today announced that it has won a seven-year engagement with Xoserve, an organization which is an integral part of the gas distribution and transmission market in Britain. Xoserve supports Britain’s gas market through the provision of centralised information and data services for gas transporters and shippers. The company is jointly owned by the five major gas distribution Network companies and National Grid’s Gas Transmission business.
The Wipro contract is part of the UK Link Programme which will involve the replacement of Xoserve's two decade old legacy UK Link suite of applications by best-in-class enterprise applications with more contemporary technologies. UK Link is a suite of highly complex information and technology systems, managed by Xoserve on behalf of the UK Gas Industry that ensure the smooth running of Britain’s competitive gas market. The new platform will enable Xoserve to meet the expected demand growth generated by the roll-out of Smart Meters in the United Kingdom as well as enable Xoserve to be more responsive to changes in the gas market.
The UK Link Programme, led by Xoserve and supported by a number of business partners, will help meet a number of customer and industry wide requirements for the medium to long term. These include the ability to receive and store more meter readings; to introduce more flexibility in system enhancement and reporting and the ability for the gas market to utilise information from smart meters for the benefit of customers.
Arun Krishnamurthi, Global Head – Utilities, ENU (Energy, Natural Resources & Utilities) business unit, Wipro Limited, said, “The complex stakeholder matrix, and Xoserve's central role in delivering the changes to the entire Gas industry in the UK, make this programme unique and transformational in nature. This is an immensely prestigious project for us and we look forward to partnering with Xoserve to ensure seamless delivery of this critical programme. We are confident that we will be able to leverage our strong understanding of the business domain and capabilities in new and emerging technologies, for the success of this project.”
Chris J Murray, Chief Executive Officer, Xoserve Limited, said, "The UK Link suite of IT systems is the life blood of the competitive gas market; enabling key processes that are critically important to the whole industry. It is fantastic news that we have Wipro - a high calibre and experienced partner - working alongside us to deliver this transformational programme."
Note: The deal along with the name of the customer was mentioned in Wipro Limited's Q4 FY13-14 financial results announcement press release dated April 17, 2014, for the quarter ended March 31, 2014.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients to do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of 140,000 serving clients across 61 countries. For more information, please visit www.wipro.com.
Xoserve was founded on 1st May 2005, and is an integral part of the gas distribution market in Britain. By delivering transportation transactional services on behalf of all the major gas Network transportation companies, Xoserve provides one consistent service point for the gas Shipper companies. Xoserve is jointly owned by the five major gas distribution Network companies and National Grid’s gas transmission business.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
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