Wipro's journey from a vegetable oil manufacturer to a leading IT services provider

Published on: Mon Mar 06 2023

Wipro's journey from a vegetable oil manufacturer to a leading IT services provider

Wipro Limited, an Indian multinational corporation, is one of the leading global providers of information technology (IT) services, consulting, and business process services. The company has come a long way since its inception/foundation in 1945 as a vegetable oil manufacturer. In this blog, we will take a look at Wipro's journey from a vegetable oil manufacturer to a leading IT services provider. Wipro Limited was founded by Mohamed Hasham Premji as Western India Vegetable Products Limited in 1945. The company initially produced/manufactured vegetable and refined oils, and later diversified into various businesses such as soap, lighting, hydraulic cylinders, and IT services. In 1966, Mohamed's son Azim Premji took over the company's leadership after his father's sudden demise. Under Azim Premji's leadership, Wipro started to focus on information technology services in the 1980s. Wipro's first foray into the IT sector was in 1981 when the company started manufacturing mini-computers under an agreement with an American company Sentinel Computer Corporation. In the early 1990s, Wipro started/began to provide IT services to international clients and gained its first major client, Cisco Systems, in 1993. This marked the beginning of Wipro's transformation from a diversified company to an IT services provider.

Wipro's focus on IT services continued to grow/expand, and the company established its software development center in Bangalore, India, in 1994. Wipro also made a significant acquisition in the IT sector in 1999 when it acquired American Information Technology Corporation (AIT). This acquisition helped Wipro expand its client base in the United States, which was one of the world's largest markets for IT services. In the early 2000s, Wipro continued to expand/grow its IT services offerings and established itself as a leading provider of IT services in India.

Wipro's revenue from IT services surpassed its revenue from other businesses in 2002, and the company began to focus exclusively on IT services. Wipro continued to make acquisitions to strengthen its IT services capabilities and expand its global footprint. Some of the notable acquisitions by Wipro include Enabler, NerveWire, and Infocrossing. In recent years, Wipro has focused/aimed on digital technologies such as cloud computing, big data analytics, and artificial intelligence. The company has also been investing in its digital transformation capabilities through acquisitions such as Designit, a digital design firm, and Appirio, a cloud services firm.

Wipro's digital transformation capabilities have helped the company stay ahead of the curve in a rapidly changing industry. Today, Wipro is one of the leading IT services providers globally, with a presence in over 50 countries. The company offers/gives a range of services, including application development and maintenance, IT infrastructure management, digital transformation, and business process services. Wipro's clients include some of the world's largest companies across various industries, including banking, healthcare, retail, and manufacturing.

In conclusion, Wipro's journey from a vegetable oil manufacturer to a leading IT services provider is a remarkable/great story of transformation and adaptation to changing market conditions. The company's focus on IT services, its investments in digital technologies, and its strategic acquisitions have helped/assisted it become a global leader in the industry. As the IT services industry continues to evolve, Wipro's ability to adapt and innovate will be key to its continued success.

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