Wipro announced signing a contract with a Canadian airports authority to provide information technology (IT) and business transformation services over a seven-year period. The company informed the stock exchanges about the development after trading hours on Wednesday.
An agreement between the Greater Toronto Airports Authority (GTAA) and India's third-largest IT software services company was signed for a seven-year business partnership. GTAA operates Toronto Pearson International Airport in Canada.
The services to be offered by Wipro under the agreement include transformation of airport operations for GTAA and deployment of emerging technologies.
"This is a landmark partnership for Wipro and GTAA. We are confident that our airport domain expertise combined with our skilled talent pool will provide the GTAA with the reliable and innovate IT solutions that it needs as one of North America's fastest growing airports," Anand Padmanabhan, President for Wipro's energy, natural resources, utilities and construction business unit, said in a statement to the Bombay Stock Exchange (BSE).
GTAA said that the partnership with Wipro will enable to scale up its capabilities.
"Wipro's aviation-centric experience will provide Toronto Pearson with unique capabilities that improve the airport user experience through scalable, flexible and resilient digital IT systems while consolidating our IT footprint," Martin Boyer, Vice-President and Chief Information Officer, GTAA, said in the joint statement.
The announcement comes a day after the Bengaluru-based company announced its first quarter results. While announcing the Q1 financials and giving IT revenue guidance for the second quarter, the company also said that it has called off a decision to buy securities processing and fund administration services Viteos for $130 million.
"It was amicably decided by both the parties not to pursue it further, as both the parties could not complete the closing conditions,"Jatin Dalal, CFO of Wipro, said.
For the second quarter, the company gave its IT revenue guidance as $1,931 million to $1,950 million, up from $1,930.8 million it achieved in the June 2016 quarter.
Net profit however, declined 6.7 percent on a YoY basis to Rs. 2,059 crore from Rs. 2,207 crore in the June 2015 quarter.
Shares of Wipro closed at Rs. 535 apiece, down 2.62 percent from their previous close.
