Wipro bags over $1.5 billion deal from US-based Alight Solutions
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, HR and finance solutions.
IT services major Wipro on Sunday said that it has won an over USD 1.5 billion engagement from Alight Solutions LLC, its 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, HR and finance solutions.
"This deal will result in revenues of USD 1.5 to 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," Alight Solutions Chief Executive Officer Chris Michalak said.
Wipro's larger peer Tata Consultancy Services (TCS) has bagged three large multi-year deals totalling over USD 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 per cent to Rs 2,120 crore and revenue rising 4.72 per cent to Rs 14,307 crore as compared to the previous year.
Wipro CEO and Executive Director Abidali Z 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 digitalise and modernise Alight's core across platforms, technologies and operations," he added.
In July this year, Wipro had partnered Alight Solutions to take over the latter's captive operations in India - Alight HR Services India - for a consideration of USD 117 million.
In a separate BSE filing today, Wipro said "the transaction has been completed on August 31, 2018".
Alight HR Services India (formerly known as Aon HR Services India) was set up in September 2016. It has about 9,000 employees and registered revenue of Rs 1,132 crore in 2017-18. It has centres in Gurugram, Noida, Mumbai and Chennai.