Wipro To Buy 90% In Spectramind

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Wipro Ltd today announced the decision to increase stake in Spectramind by 66 per cent to 90 per cent, and it had bagged a $20 million contract for a UK-based utilities' firm during the first quarter of 2002-03.

Wipro Ltd chairman Azim Premji said the company had paid around $83 million to increase its stake in Spectramind, while the total pay out for all of 90 per cent would be around $93 million.

Premji said Wipro had bagged the five-year contract for a UK-based utilities' company to remote manage their 350 heterogeneous servers, 3,200 network elements and 44 databases, spread across 118 locations in the UK and Ireland.

Raman Roy will continue to be the chief executive officer of Spectramind, a business process outsourcing company.

Wipro also won its first PCMM consulting assignment for a US corporate and in India it has started work for a client on Six Sigma Consulting. "This was a quarter where we translated our strategic plan into business initiatives," Premji said.

Wipro also appointed Steve Zucker as chief executive of infrastructure services.