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Wipro Limited

10/20/2020 | Press release | Distributed by Public on 10/19/2020 22:28

Wipro awarded five-year Application Management and Service Integration & Management contract by Fortum

Helsniki, Finland and Bangalore, India - October 20, 2020: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has won an Application Management (AMS) and Services Integration & Management (SIAM) contract from Fortum, one of the leading clean-energy companies headquartered in Espoo, Finland.

As a part of the five-year agreement, Wipro will manage Fortum's application portfolio across hundreds of applications for more than 11,500 users across 18 countries and provide 24/7 support for business-critical applications. Wipro will leverage its Artificial Intelligence and automation platform, Wipro HOLMES® to enable process automation for enhanced end-user experience. In addition, Wipro's Service Integration & Management (SIAM) transformation solution will help Fortum consolidate and govern its multi-supplier eco-system.

Tuomas Salosaari, VP, Operation Services, Business Technology, Fortum said, 'Wipro was chosen as a partner because of their experience and capability in providing a flexible and efficient solution for us. We believe this will be a true win-win relationship.'

Sarat Chand, Vice President, EMEA Utilities Business Head, Wipro Limited said, 'We are pleased to be selected by Fortum. This engagement is aligned to our strategy of assisting our clients to navigate the energy transition towards a sustainable world. The accelerated trend of supply-demand and energy conscious prosumers is driving a clean energy revolution faster than before, inspiring innovation and partnerships like these. This deal was completed in the midst of the pandemic and we appreciate the spirit of Fortum and Wipro teams in making this possible.'

Carl-Henrik Hallström, Head of Nordic & Baltic Region, Wipro Limited said, 'This is an important step forward in Wipro's strategy for the Nordic and Baltic region. We see a good match between these two companies, one in the energy industry and the other in technology services, to drive innovation and growth.'

Wipro has been present in the Nordic & Baltic region for over a decade and works with customers across the manufacturing, energy, natural resources, utilities, financial services, telecom, healthcare and retail industry verticals. Wipro also has a presence in the region through its acquired entities - 4C, offers unrivalled expertise in best of breed technology integration, including Salesforce's core clouds and additionally provides consultancy across customer 360, quote-to-cash and The DocuSign Agreement Cloud, Designit, a strategic design firm specializing in transformative product-service experiences and Topcoder, the world's largest technology network and on-demand digital talent platform with more than 1.6 million developers, designers, data scientists and testers around the globe.

About Fortum

Fortum is a European energy company with activities in more than 40 countries. We provide our customers with electricity, gas, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. Together with our subsidiary Uniper, we are the third largest producer of CO2-free electricity in Europe. With approximately 19,000 professionals and a combined balance sheet of approximately EUR 69 billion, we have the scale, competence and resources to grow and to drive the energy transition forward. Fortum's share is listed on Nasdaq Helsinki and Uniper's share on the Frankfurt Stock Exchange. www.fortum.com

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics, and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability, and good corporate citizenship, we have over 180,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future. For more information, please visit www.wipro.com.

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Wipro Limited

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Suzanna Abarca

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Forward-looking and Cautionary Statements

The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, 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. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers' ability or willingness to purchase our offerings, delay prospective customers' purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. 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.