Wipro and Tele2 in M2M/IoT Partnership to Tap European Market
STOCKHOLM and BANGALORE, India, December 20, 2013 /PRNewswire/ --
Wipro Ltd. (NYSE: WIT), a leading global information technology, consulting and outsourcing company and Tele2 AB (Tele2), (NASDAQ OMX Stockholm Exchange: TEL2 A and TEL2 B) today announced a partnership to jointly develop solutions around Machine-to-Machine (M2M) and the Internet of Things (IoT).
Wipro and Tele2 have formed a strategic partnership to provide business customers with M2M/IoT solutions that will help them reduce cost and open up new revenue streams. The agreement will help customers implement solutions that will reduce time-to-market as well as the cost of development and operations.
Alan Atkins, Vice President and Global Head of M2M at Wipro, stated, "Wipro's partnership with Tele2 is driven by the growing demand and interest for M2M solutions across verticals from customers throughout Europe. Our relationship with Tele2 will enable both companies to provide customers with a compelling, end-to-end M2M service and business solution."
Rami Avidan, Head of Tele2 M2M Global Solutions, commented, "A partnership is the right way of going to market in the M2M/IoT world. At Tele2, we are actively focusing on our partnership strategy and by partnering with Wipro, we can now jointly offer an end-to-end solution that will help our customers realize business opportunities in a simple, flexible and secure way."
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 a workforce of 140,000 serving clients across 61 countries. For more information, please visit www.wipro.com
Tele2 is one of Europe's fastest growing telecom operators, always providing customers with what they need for less. We have 15 million customers in 10 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services, cable TV and content services. Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2012, we had net sales of SEK 31 billion and reported an operating profit (EBITDA) of SEK 6 billion.
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.
EVP, Corporate Communications
SOURCE Wipro Ltd