Wipro closes a $500 million deal from the American communications services company

Mumbai, June 6 IT giant Wipro on Thursday announced that it has secured a $500 million deal from a leading US communications services provider over five years.

In a stock exchange filing, the IT services company said it would provide managed services for some products and industry-specific solutions to the US-based company.

“Wipro has secured a $500 million deal from a leading US communications services provider,” the document said, adding that the agreement has a term of five years.

However, Wipro did not reveal the name of the US-based company. The company’s shares closed 2 percent higher at Rs 461.6 apiece on Thursday.

Last month, more than three-quarters of Wipro’s public shareholders voted against a $4.33 million cash layoff for former CEO Thierry Delaporte, the company’s regulatory filings show. According to the BSE filing, nearly 80 percent of public shareholders voted against the cash compensation awarded to Delaporte. Delaporte resigned as Managing Director and CEO on April 6.

Meanwhile, Adani Ports and Special Economic Zone (SEZ) will join Sensex from June 24 after the BSE rejig, which is likely to replace Wipro in the benchmark Sensex. The BSE benchmark will disappear from the index on the same day.

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