Wipro growth with time

Wipro Tech (NYSE: WIT) is an information technology service company established in India in 1980. It is the global IT services arm of Wipro Limited (in operation since 1945, incorporated 1946). It is headquartered in Bangalore and is the third largest IT services company in India. It has more than 79,832 employees as of December 2007, including its business process outsourcing (BPO) arm which it acquired in 2002. We can see its growth in following timeline.

 

Time line
  1945: Western India Vegetable Products Limited is created
  1947: An oil mill and hydrogenated cooking medium plant set up
  1966: Azim Premji takes over leadership of Wipro at age 21
  1975: Wipro Fluid Power is set up to manufacture hydraulic and pneumatic cylinders
  1977: Company is renamed to Wipro Products Limited
  1980: Information technology services for domestic market started
  1981: Hardware company is launched
  1982: Company is renamed to Wipro Limited
  1984: Software products subsidiary Wipro Systems Ltd. is established
  1985: Toilet soaps manufacture begins
  1988: Wipro BioMed is launched. It is a new business unit to market and service bio-analytical and diagnostic instruments
  1989: Joint venture with GE for medical systems, Wipro GE Medical Systems Ltd
  1990: Product software business discontinued; software services begin
  1992: Lighting business and finance arm is established
  1994: Merger of subsidiaries Wipro Technologies Ltd. and Wipro Systems Ltd. with Wipro Ltd.
  1995: Received ISO 9001 quality certification
  1997: Received CMM level 3 certification from the Software Engineering Institute of India
  1998: Wipro identity is relaunched with rainbow flower and positioning statement, “Applying Thought”
  1998: Certified at CMMi level 5
  1999: Brand makeover, with sunflower logo and the tag line “Applying Thought”
  1999: Wipro Net is set up by restructuring Wipro Ltd.’s communication services business to address the Internet market
  2000: Wipro Ltd.’s American depositary receipts are listed on New York Stock Exchange
  2000: Six Sigma initiative begun
  2001: Wipro receives a $70 million SI order, the largest ever till overtaken by TCS
  2001: Awarded the PCMM level 5 certification
  2001: Business Today rated it as India’s most valuable company
  2001: BusinessWeek ranked it among the top 100 best performing technology companies globally
  2002: Acquires Raman Roy’s Spectramind for US$ 175 million to get into BPO industry
  2002: BusinessWeek ranked it among the top 10 software services companies
  2004: Becomes 4th largest company in the world in terms of market capitalization in IT services
  2005: Becomes a $2 billion company
  2006: Acquires Newlogic Technologies, Austria, a major semiconductor IP design provider in wireless and bluetooth domains
  2006: Post acquisition of Newlogic, it becomes the world’s largest third-party R&D service provider[citation needed].
  2006: Acquires Saraware, a wireless R&D service provider from Finland
  2006: Acquires Quantech, a mechanical engineering design provider
  2006: Acquires Enabler, a leading retail solutions provider from Portugal
  2006: Joint venture company WMNetServ with Motorola
  2006: Net profit for July, August and September rises 48% to $152m (£81m)
  2007: Revenues reach $3.5billion[4]
  2007: Becomes SOX Compliant.
  2007: Wipro-Biomed Division sold to Ranbaxy Fine Chemicals [1]
  2007: Wipro opens new development center in Monterrey, Mexico
  2007: Acquires U S based Infocrossing
  2008: Acquires Aquatech Industries Pvt. Ltd. and its sister concerns.

~ by Hemant Dwivedi on June 11, 2008.