Companies

Wipro CEO indicates acceleration of M&As

Mini Tejaswi Bengaluru | Updated on November 18, 2020 Published on November 18, 2020

Wipro has so far been conservative with regard to mergers and acquisitions (M&As). However, going forward, the company aims to accelerate the pace of M&As to acquire newer capabilities, expertise and market positioning, said Wipro CEO Thierry Delaporte.

Speaking at a virtual analysts' meet on Wednesday, Delaporte said, “We are in a market where size matters. We want to bring in better capabilities, expertise and market position. M&As will be a strategy in this direction.”

He said, following his interactions with over 120 clients during the last four months, the clients indicated that they were looking for tech partners who can disrupt them, make bold changes and help them make course corrections.

Responding to an analyst query on changed market focus, Delaporte said: "Our growth was led by one geography and our priority now is to drive and accelerate growth in specific geographies and sectors and to win larger deals. We want to renew our ambition for Europe, the Middle East and Asia."

Commenting on the future of work, Wipro Chairman Rishad Premji said, a hybrid model, a mix of going-to-office and working-from-home, is the way forward.

"Fewer than 3% of our employees come to the office today. We virtually onboarded 18,000 employees in the last seven months. Technology is key to survival and driving resilience in business. The pace of transformation has accelerated, and it has had a pervasive impact on the ways of working in retail, health and insurance," added Premji.

On changing the global marketplace, Rajan Kohli, President, Wipro, said, clients no longer are looking for system integration providers or strategic advisors. Instead, they want partners who can deliver meaningful business outcomes. "Clients care for productivity, velocity and business outcomes; the matrix that matters."

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Published on November 18, 2020
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