Wipro concludes Spectramind acquisition transaction

Wipro Ltd has announced that it had concluded the transaction for acquisition
of 66 percent stake in Spectramind e-Services Pvt Ltd on July 31, 2002. Post
this acquisition, Wipro’s aggregate interest in Spectramind is around 90
percent of all outstanding equity shares, including convertible preference
shares.

With this strategic acquisition, Wipro Technologies, the global IT services
division of Wipro Ltd, along with Spectramind will offer integrated solutions
for all BPO needs of clients worldwide. Wipro’s strengths as a leader in IT
services, quality, in terms of SEI-CMM, SEI-PCMM, SEI-CMMi and Six Sigma based
processes, will be complemented by Spectramind’s leadership as India’s
largest third party IT enabled services company and the first Indian company to
achieve COPC certification using Six Sigma platform.

Spectramind, with its 2,700 strong team, addresses the BPO needs of its seven
global customers covering over 28 processes.

Wipro Technologies was already providing technology intensive secondary and
tertiary customer support services.

With the acquisition of Spectramind, Wipro has strengthened its BPO offerings
with the inclusion of Backroom Processing Services and Customer Contact Services
to its portfolio of services.

Wipro will deliver value to its BPO clients in three stages: - Improved cost
efficiencies by moving operations offshore; Improved process efficiencies and
continuous process improvements by using Six-Sigma tools; Process optimization
by re-engineering comprising redesigning the process and by changing the IT
solution that supports the process.

“The addition of the new services will enhance the value of our customer
relationships as they can rely on our experience and processes for these
services as well,” said Vivek Paul, CEO, Wipro Technologies. “Our
initiatives such as Six Sigma and CMMi have helped raise the quality
expectations of our clients and we are happy that now they will derive the same
quality standards for BPO as well using Six Sigma, Kaizen and COPC,” he added.

Cyber News Service