Majid Al Futtaim Ventures LLC Selects Wipro as Its Strategic IT Partner for 5 Years

Tue Jun 4, 2013 3:30am EDT

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Majid Al Futtaim Ventures LLC Selects Wipro as Its Strategic IT Partner for 5 Years

Wipro Ltd. (NYSE:WIT), a leading global Information Technology, Consulting and Outsourcing company today announced that it has been selected as a strategic IT partner by Majid Al Futtaim Ventures LLC, Dubai, one of the subsidiaries of the Majid Al Futtaim group of companies. As a part of the five year engagement, Wipro will support the implementation of an ERP solution as well as provide managed services, including infrastructure platforms and applications support for Majid Al Futtaim Ventures LLC, a leading developer of some of the region’s most iconic leisure concepts and experiences.

Founded in 1992, Majid Al Futtaim group of companies is one of the leading shopping mall, retail and leisure pioneers with operations in 12 countries and over 24,000 employees. Majid Al Futtaim Ventures develops and operates all the leisure and entertainment facilities at Majid Al Futtaim malls including Ski Dubai in addition to growing its brand portfolio within third-party malls across the region. It is also parent to a consumer finance company and a fashion retail business.

Wipro’s managed services offering will involve supplying the hardware, hosting it and enabling Data Center and disaster recovery on cloud for Majid Al Futtaim Ventures. This will ensure improved asset management, operational efficiency, robust back office operations and business continuity. As part of the ERP implementation, Wipro will also engage with Majid Al Futtaim Ventures to set up a Finance Shared Services Center, thereby allowing transactional accounting operations to be standardized, more controlled, effective and efficient across the business.

Mukund Seetharaman, General Manager & Business Head - Gulf, Wipro Ltd, said, “We are happy to partner with Majid Al Futtaim Ventures LLC, which is a value enhancing business arm of the prestigious Majid Al Futtaim group of companies. This engagement will further strengthen Wipro’s positioning in the Middle East market, a key focus area for us for the past decade. We are confident that our global solutions will enhance and streamline the business processes at Majid Al Futtaim Ventures and propel their further growth.”

About Wipro Ltd.

Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" – helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability, Wipro has over 140,000 employees and clients across 54 countries. For more information, please visit www.wipro.com.

Forward-looking and Cautionary Statements

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Wipro Ltd.
Purnima Burman
+91 9900512025
purnima.burman@wipro.com

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