Wipro’s contract with Canada’s Atco might shrink

BENGALURU: Wipro’s contract with Canadian power and utilities main Atco might shrink following the latter’s resolution to insource some work, and outsource some components of the work to a different IT service supplier, sources informed TOI.
Wipro and Atco signed a $1.2-billion contract in 2014 that might lead to revenues of $112 million to Wipro yearly for the subsequent ten years, as much as December 2024.
As a part of the engagement, Wipro was to supply complete outsourcing options to Atco in Canada and Australia.
Atco is a diversified $22-billion enterprise using 6,200 workers offering modern and built-in options in constructions & logistics, electrical energy, pipelines & liquids and retail power.
When TOI requested Wipro concerning the improvement, the corporate mentioned it doesn’t touch upon particular shopper engagements.
An Atco spokesperson mentioned, “Atco continues to work with Wipro. Any choices on modifications with different distributors is just not one thing Atco will touch upon.”
Wipro’s former head of power, pure sources and utilities, Anand Padmanabhan, had led this transformational initiative.
Wipro had additionally acquired Atco I-Tek, a subsidiary of Atco, for an all-cash consideration of $195 million.
Phil Fersht, CEO of HfS Analysis, mentioned, “Let’s hope for Wipro’s sake that is an remoted incident, as we’re seeing a big drive from enterprises to extend their outsourcing quotient with their main supplier.”

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