Wipro in Race for American Express IT Outsourcing Deal
Wipro is aggressively bidding for the American Express IT outsourcing deal which is expected to be upwards of a billion dollars. No official confirmation was forthcoming from Wipro. In addition to Amex, it is learnt Wipro is also bidding for the Bank of America contract which is also in the USD 1 billion league.
American Express’ USD 4 billion 7-year deal with IBM Global Services is coming to an end during next year and it is this contract which is keeping Indian vendors active. TCS and Wipro won parts of the ABN Amro and Pearl Deals. Wipro is therefore trying to break into this league. In the recent past has been getting its act together in the financial services sector where it has been a late starter compared to its peers.
This division totalled up revenues of USD 345 million during FY06, a growth of 64 per cent YoY. The division has been growing at around 50 per cent during FY05 and FY04. [More Info]
