IT major Wipro Technologies today announced Abid Ali Neemuchwala as the new CEO of the company. His appointment will be effective from February 1, 2016. Neemuchwala is based in Dallas, US.

Neemuchwala joined Wipro as its group president and chief operating officer from its bigger rival Tata Consultancy Services Ltd in April last year.

Wipro is in the final stages of fully acquiring Drivestream, a management and IT consulting firm in which it had picked up a minority stake in March, reports Deborshi Chaki in Mumbai. Company sources told FE that a formal announcement was expected in January. Headquartered in Washington, DC, Drivestream provides Oracle-based cloud services across sectors ranging from insurance, healthcare to telecom and lists several Fortune 500 companies as its customers. Drivestream was founded by Indian-origin entrepreneur D Gopal Krishna in 2002 and has delivery centres in the US and in Chennai.

Wipro, India’s third-largest IT services provider, on Wednesday, said that it has signed a definite agreement to acquire New Jersey-based business process as-a-service (BPaaS) provider Viteos Group for a consideration of $130 million (around Rs 860 crore). This is the Bengaluru-based company’s second acquisition in this month after it decided to acquire German IT and consulting services provider Cellent AG for $77 million (about Rs 517 crore).

Founded in 2003, Somerset-headquartered Viteos Group addresses the alternative investment management industry in the US, Europe and Asia through over 400 employees.

Bengaluru: Nike Inc.’s October announcement of a partnership with DreamWorks Animation-backed Nova to tap 3D technology to change the way it designs its athletic gear, was cheered in the Bengaluru office of Infosys Ltd.

The Indian software services firm invested $15 million in Nova earlier this year, its first investment from a $500 million innovation fund created to back start-ups focused on disruptive technologies.

After Tata Consultancy Services (TCS), Wipro too has issued a warning saying that disruption at its Chennai facilities due to recent floods and the costs associated with subsequent invocation of business continuity plans would have a material impact on the performance of the company in the October-December quarter of FY16.

Wipro’s warning comes on the heels of a similar announcement by India’s largest IT services firm Tata Consultancy Services.

Country's third largest software services firm Wipro on Wednesday said it will acquire German IT consulting firm cellent AG for 73.5 million euros (about Rs 518 crore).

The all-cash deal is expected to close in the March 2016 quarter, Wipro said in a filing to the BSE.

Bengaluru: Wipro Ltd restructured its global media and telecommunications business unit and split the nearly $1 billion unit into three different businesses, after the incumbent boss Ayan Mukerji decided to leave from the country’s third largest software exporter.

Significantly, Mukerji becomes the second executive to leave Wipro after the chief business operations officer Satishchandra Doreswamy resigned in March when Wipro undertook its biggest management reshuffle in four years, which included the appointment of a former Tata Consultancy Services Ltd executive Abid Ali Neemuchwala as chief operating officer.

Wipro Ltd is turning to a start-up for technology which the country’s third largest software exporter believes will help it automate a lot of internal processes. The move is the first such engagement where a large Indian IT company is using the technology of a start-up to become a nimble organization.

Significantly, this move by Wipro could prompt other technology firms in the country to deploy technologies to improve the way they do business, according to a few experts.

Bangalore-based IT services provider Wipro today said that it has won a five-year IT contract from Coop Norge Handel AS (Coop Norge).

Coop Norge is a leading retailer in Norway, with a market share of 33% and over 1,500 stores.

Wipro share price declined 1.57 per cent in morning trade on Friday after the company for the third quarter of the fiscal gave a muted revenue growth guidance in the range of 0.5-2.5% in dollar terms. The IT major attributed this conservative guidance to larger number of holidays during the third quarter and the continued weakness in the energy vertical.

At 11.49 am, share price of Wipro was down 1.57 per cent at Rs 568.85. Sensex was trading 221.25 points up at Rs 27,508.91 during the same time.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.