Shares in Wipro rose nearly 3 per cent on Friday after the company announced a strategic alliance with Canada’s ATCO, which will result in annual revenues of $112 million for the next 10 years. Alberta-based ATCO is engaged in structures & logistics, utilities, energy and technologies.
Wipro, India’s third largest outsourcer will provide complete suite of IT services to ATCO in Canada and Australia.
The deal is a big boost for Wipro, which has lagged industry growth estimates for the past few years. Bangalore-based Wipro is estimated to post revenue growth of 9.9 per cent in the current fiscal.