Wipro has announced that it has entered into a strategic alliance with Alberta-based ATCO Ltd, one of Canada’s biggest corporations. As part of the deal, Wipro will provide total outsourcing solutions to ATCO in Canada and Australia.
Wipro and ATCO have signed a series of Master Services Agreements under which Wipro will give the complete set of IT services to ATCO, according to a joint statement. The arrangement is projected to result in revenues of over $112 million to Wipro annually, for the next ten years, up to December 2024.
Along with this, Wipro will buy ATCO’s ATCO I-Tek unit, which has presence in North America and Australia, for $195 million. ATCO I-Tek has been providing IT Services to ATCO for the past 15 years.
“This alliance ensure ATCO can focus on growing our core businesses of structures and logistics, utilities, and energy while partnering with Wipro for strategic, innovative IT solutions essential to support our global operations,” said Brian Bale, senior vice president & chief financial officer, ATCO.
Anand Padmanabhan, chief executive, energy, natural resources & utilities, Wipro said, “Our focus will be to enable ATCO to enhance their competitiveness by deployment of strategic solutions and efficient delivery of IT services. The agreement with ATCO enhances our capability to create, nurture and tap local talent to power our growth journey in Canada.”