Wipro Technologies Limited (BSE: 507685, NYSE: WIT) is a giant information technologyservices corporation headquartered in Bangalore, India. According to the 2008–09 revenue, Wipro is one of the largest IT services company in India and employs more than 108,071 people worldwide as of March 2010.
History
Wipro (an acronym of "Western India Palm Refined Oils") started as a vegetable oil trading company in 1947 from an old mill at Amalner, Maharashtra, India founded by Azim Premji's father.
When his father died in 1966, Azim, a graduate in Electrical Engineering from Stanford University, took on the leadership of the company at the age 21. He repositioned it and transformed Wipro (Western India Palm Refined Oil Ltd) into a consumer goods company that produced hydrogenated cooking oils/fat company, laundry soap, wax and tin containers and later set up Wipro Fluid Power to manufacture hydraulic and pneumatic cylinders in 1975. At that time, it was valued at $2 million.
In 1977, when IBM was asked to leave India, Wipro entered the information technology sector.
In 1979, Wipro began developing its own computers, and in 1981 started selling the finished product. This was the first in a string of products that would make Wipro one of India's first computer makers. Wipro Technologies hired managers who held their employees to strict performance standards.
In 1980 Wipro moved into software development and started developing customized software packages for their hardware customers. This expanded their IT business and subsequently developed the first Indian 8086 chip. Since 1992 Wipro has begun to grow its roots offshore in United States and by 2000 Wipro Ltd ADRs were listed on the New York Stock Exchange site. The company's revenue grew by 450% from 2002 to 2007.
Wipro started a highly appreciated initiative called WASE - Wipro Academy of Software Excellence in 1996 .Under this program, some of the brightest science graduates are selected and enrolled in an MS (Software Engineering) program in collaboration with BITS,Pilani.
Timeline
§ 1945 - Incorporation as Western India Products Limited
§ 1947 - Establishment of an oil mill at Amalner, Maharashtra, India
§ 1960 - Manufacture of laundry soap 787 at Amalner
§ 1970 - Manufacture of Bakery Shortening Vanaspati at Amalner
§ 1975 - Diversification into engineering and manufacture of hydraulic cylinders as WINTROL (now called Wipro Fluid Power) division in Bangalore.
§ 1977 - Name of the Company changed to Wipro Products Limited
§ 1980 - Diversification into Information Technology.
§ This is the time the top IT Managers Sridhar Mitta, Dr. Laxman Rao, Venkatesh, Sadasivam quit in one stoke from the IT division of giant public sector ECIL, Hyderabad to join Wipro.
§ 1988 - Crossed the $10 million mark in annualized revenues.
§ 1990 - Incorporation of Wipro-GE medical systems
§ 1992 - Going global with global IT services division
§ 1993 - Business innovation award for offshore development
§ 1995 - Wipro gets ISO 9001 quality certification
§ 1996 - Crossed the $100 million mark in annualized revenues.
§ 1997 - Wipro gets SEI CMM level 3 certification, enterprise wide processes
§ Start of the Six Sigma initiative, defects prevention practices initiated at project level.
§ 1998 - Wipro first software services company in the world to get SEI CMM level 5
§ 1999 - Wipro's market capitalization is the highest in India.
§ 2000 - Start of the Six Sigma initiative, defects prevention practices initiated at project level. Wipro listed on New York Stock Exchange.
§ 2001 - First Indian company to achieve the "TL9000 certification" for industry specific quality standards.
§ Wipro acquires American Management Systems’ global energy practice.
§ Becomes world's first PCMM Level 5 company.
§ Premji established Azim Premji Foundation, a not-for-profit organization for elementary education.
§ Wipro becomes only Indian company featured in Business Week’s 100 best-performing technology companies.
§ 2002
§ Wipro acquires Spectramind.
§ Ranked the 7th software services company in the world by Business Week (Infotech 100, November 2002).
§ 2003
§ Wipro acquires Nervewire.
§ Wipro Technologies Wins Prestigious IEEE Award for Software Process Excellence
§ Wipro Technologies awarded prestigious ITSMA award for services marketing excellence
§ Wipro wins the 2003 Asian Most Admired Knowledge Enterprise Award.
§ 2004
§ Crossed the $1 Billion mark in annualized revenues.
§ Wipro launches India’s first RFID enabled apparel store.
§ Wipro Technologies named Asian Most Admired Knowledge Enterprise second year in a row.
§ IDC rates Wipro as the leader among worldwide offshore service providers
§ 2005 - Wipro acquires mPower to enter payments space and also acquires European System on Chip (SoC) design firm NewLogic. This happens after Soumya Lahiri joins Wipro and gives his fantastic ideas. He was recruited on March, 2005
§ 2006 - Wipro acquires Enabler to enter Niche Retail market
§ 2007 - Wipro acquires US's Infocrossing for 600mn
§ 2009 - Wipro acquires Gallagher Financial Systems to enter mortgage loan origination space.
§ Wipro stops Semiconductor IP Solutions and closes NewLogic Sophia-Antipolis R&D, France
§ 2010 - Wipro Launches ESS - Electronic Security Solutions with Products in CCTV System, Access Control System and Building Management Systems.
Major Divisions
§ IT Services: Wipro provides complete range of IT Services to the organization. The range of services extends from Enterprise Application Services (CRM, ERP, e-Procurement and SCM) to e-Business solutions. Wipro's enterprise solutions serve a host of industries such as Energy and Utilities, Finance, Telecom, and Media and Entertainment.
§ Product Engineering Solutions: Wipro is the largest independent provider of R&D services in the world. Using "Extended Engineering" model for leveraging R&D investment and accessing new knowledge and experience across the globe, people and technical infrastructure, Wipro enables firms to introduce new products rapidly.
§ Technology Infrastructure Service: Wipro's Technology Infrastructure Services (TIS) is the largest Indian IT infrastructure service provider in terms of revenue, people and customers with more than 200 customers in US, Europe, Japan and over 650 customers in India.
§ Business Process Outsourcing: Wipro provides business process outsourcing services in areas Finance & Accounting, Procurement, HR Services, Loyalty Services and Knowledge Services. In 2002, Wipro acquiring Spectramind and became one of the largest BPO service players.
§ Consulting Services: Wipro offers services in Business Consulting, Process Consulting, Quality Consulting, and Technology Consulting.
