Wipro bags 5-year deal from Outokumpu

The five-year deal strengthens Wipro and Outokumpu's existing eight-year partnership, focuses on agility, productivity, and customer-centricity.

IT major Wipro and Finland-based Outokumpu, a leading multinational stainless steel manufacturer, announced a strategic deal to accelerate Outokumpu's cloud transformation for applications. This is yet another win for Wipro in Finland, resulting from Wipro's renewed focus and investments across the Nordics and in Finland.

The five-year deal strengthens Wipro and Outokumpu's existing eight-year partnership, focuses on agility, productivity, and customer-centricity.

The deal will help Outokumpu reach its goal of becoming an agile, data-driven, sustainability-focused organization by delivering next-generation applications and building a Microsoft Azure powered platform for Outokumpu's corporate and factory applications.

As a result, Outokumpu will be able to respond faster to changing business needs, as well as improve productivity, reliability, and the cost-effectiveness of IT services. In addition, this on-demand platform will reduce consumption of power, lowering the carbon footprint associated with Outokumpu's IT infrastructure.

This deal was mentioned in Wipro's financial results announcement press release, dated 20 July 2022, for the quarter ended 30 June 2022 (Q1 FY23), naming the customer and tenure but not the size of the deal.

Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs.

Wipro's consolidated net profit rose 3.72% to Rs 2,659 crore on 4.7% increase in revenue form operations to Rs 22,539.7 crore in Q2 FY23 over Q1 FY23. On a year on year (YoY) basis, the IT firm's net profit declined 9.27% while revenue jumped 14.6% in Q2 FY23.

Shares of Wipro fell 0.60% to Rs 375.05 on Monday, 17 October 2022.

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