BANGALORE, India, April 6, 2010 /PRNewswire-FirstCall/ -- Wipro Technologies, the global IT services business of Wipro Limited (NYSE: WIT) today announced that the company has signed a partnership agreement with Philips to offer Blu-ray middleware and solution development services around Philips' developed Blu-ray technology. Wipro enters the Blu-ray market with sub-licensing rights to offer Blu-ray middleware to its customers.
The entry barrier in this space is high due to the significant dormant period before a company can enter into this market. Through this partnership with Philips, Wipro will be able to reduce the time-to-market for its customer requirements.
"Philips is happy to have this cooperation with Wipro in place" stated Frederic Guillanneuf, Director IP Licensing, Philips Intellectual Property and Standards. "Philips is strongly committed to Blu- ray Disc(BD); the engagement with Wipro, a major supplier of embedded software, will successfully support the further development of the BD market."
Commenting on this exclusive licensing agreement, Nagamani Murthy, Vice President, Mobile, Automotive and Consumer Electronics Group, Wipro Technologies said, "We are happy to enter the Blu-ray market with technology as developed by Philips, a leader in Blu-ray technology. The Philips middleware stack has established market credibility and it is a significant addition to our portfolio of Digital TV IPs and solutions. With this partnership, Wipro can create hybrid devices - those that integrate Digital TVs, Set Top Boxes and Media players like the Blu-ray for our customers and also provide niche solutions that will help them create a mark of distinction in the market".
Wipro has been working with leading Consumer Electronics customers, providing product design services in the areas of digital home entertainment products and has developed and deployed several Digital TV compliant solutions across the United States, Europe and Japan.
Wipro with its wide spectrum of competencies in the Consumer Electronics domain has more than 30 licenses for its Digital TV middleware stacks such as ATSC, OpenCable, DVB-T/C/S/CI, MHEG-5 and ISDB-T/S.
Wipro Technologies, a division of Wipro Limited (NYSE: WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and datacenter managed services to corporations 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.
Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' 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.
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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 http://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.
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