Wipro bags $1.2 billion outsourcing contract of Canadian firm ATCO.

Wipro has bagged a $1.2 billion 10-year deal to manage information technology outsourcing of Canadian energy and utilities firm ATCO, thereby giving a further fill-up to the Bangalore-based IT firm's oil and gas vertical.

Under the deal - announced on Friday - Wipro will buy ATCO I-Tek, the IT subsidiary of ATCO for $195 million, and take on board 500 employees. The company, post the closure of the deal in the current quarter, will later merge ATCO I-Tek with itself.

'We have traditionally had a strong position in the Utilities space in Europe and this engagement provides momentum to our business in Canada and Australia,' said Anand Padmanabhan, chief executive - Energy, Natural Resources and Utilities, Wipro.


TOI