Dar Al Riyadh is a well diversified group in Saudi Arabia having business interests in Engineering Services, Industrial Products, Systems & Integration and Information Technology.
The Joint Venture Company to be named Wipro Arabia Limited will offer a comprehensive range of IT solutions including Application Development & Management, Package Implementation Services and System integration services.
Prince Turki A. Abdulrahman, CEO, Dar Al Riyadh group said 'We have been committed to delivering best-of-breed IT solutions to our customers in Saudi Arabia with the highest standards of quality and customer satisfaction, this Joint Venture is another significant step in that direction. It has been our business philosophy since inception to combine local knowledge with leading international partnerships to bring value to our customers. Our customers can now access robust IT solutions which allow them to scale their businesses seamlessly. The Joint Venture will provide significant opportunities to Saudi nationals to build strong careers in the area of Information Technology.'
Suresh Vaswani, President, Wipro Infotech said, 'The Joint Venture is a strategic move by both the partners and demonstrates our commitment to invest in the Saudi Arabian IT services market.' Through the JV, the customers will have access to Wipro's broad portfolio of IT solutions customized for their business needs through a very strong local engagement model, he added.
The Joint venture provides a scalable and operationally efficient model for both partners to address the fast emerging segments in KSA's IT services market. The corporates in Saudi Arabia will benefit from the JV as it will provide them an opportunity to enhance the quality of IT services significantly.
Mr. Vaswani said 'Wipro has established itself amongst the leading system integrators in KSA. The Joint venture provides a strong operationally efficient platform for scaling our presence further in the region. It will transform the customer experience significantly by seamlessly combining Wipro's broad IT solutions portfolio, deep domain and technology expertise, and global delivery platform with Dar Al Riyadh's strong footprint and knowledge of local business requirements. This is a unique combination which customers can leverage extensively to transform their business operations through the use of IT.'
'We are very excited about the Joint venture. This opens up significant business opportunities for JV in the Saudi Arabia IT services market. The highly efficient operating model enabled by the JV provides business scalability and strong customer centricity in our operations in the region' said Rajat Mathur, Chief Executive - International Operations, Wipro Infotech.
Wipro Infotech forms a joint venture with Dar Al Riyadh in Saudi Arabia
Wipro Infotech, the India, Middle East and Asia Pacific IT Business of Wipro Ltd, today announced a Joint Venture agreement with Dar Al Riyadh Group in the Kingdom of Saudi Arabia.
- Saudi Arabia: Tuesday, January 23 - 2007 at 12:06
- PRESS RELEASE
 |
| From left to right: Suresh Senapaty - Executive Vice President - Finance & CFO, Wipro Ltd., Prince Turki A. Abdulrahman - CEO, Dar Al Riyadh Group, Azim H. Premji - Chairman, Wipro Ltd. & Suresh Vaswani - President, Wipro Infotech & Global IT Service Lines with the team at the JV signing ceremony. |
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About Wipro InfotechWipro Infotech, a division of the US$ 2.39 billion Wipro Limited, provides enterprise customers with high value Information Technology Products, Services, Solutions and Consulting Services in India, and provides Technology & Software Services and Consulting Services in the Middle East, ASEAN and Australia. Headquartered at Bangalore, Wipro Infotech serves customers in India through a network of 22 offices and 170 service locations across India. It has business offices in the Middle East, ASEAN and Australia. Wipro Infotech is ranked No. 2 in Indian Domestic IT Services Market in 2005, according to IDC's report Indian IT Services Market Analysis 2005-10.
About Wipro Ltd
Wipro Limited (NYSE:WIT) provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro also has profitable presence in niche market segments of consumer products and lighting. Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange.
For more information, please visit our websites at www.wipro.com, www.wiprocorporate.com, and www.wipro.in
Wipro's forward looking and cautionary statements
Forward-looking and cautionary statements Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions 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 our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect 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, liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our 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. Wipro 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. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
For further information, please contact:
Agency Contact:
Sameh Hamtini/ Vishak Gopinath
Asda'a Public Relations
Tel: +971 4 3344550
Wipro Infotech
Shalini Agrawal
Divisional Marketing Manager
Wipro Infotech
Bangalore
Tel: (91)98800-60771
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, January 23 - 2007 at 12:06 UAE local time (GMT+4)
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This Article was updated on Sunday, February 04 - 2007
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