RIYADH, 24 January 2007 — Wipro Infotech, the IT business of Wipro Ltd, India, yesterday announced a joint venture agreement with Dar Al-Riyadh Group in the Kingdom of Saudi Arabia.
Dar Al-Riyadh is a well-diversified group in Saudi Arabia having business interests in engineering services, industrial products, systems & integration and information technology.
The joint venture company to be named Wipro Arabia Limited will offer a comprehensive range of IT solutions including application development & management, package implementation services and system integration services.
Prince Turki A. Abdulrahman, CEO, Dar Al-Riyadh group said “we have been committed to delivering best-of-breed IT solutions to our customers in Saudi Arabia with the highest standards of quality and customer satisfaction. This joint venture is another significant step in that direction. It has been our business philosophy since inception to combine local knowledge with leading international partnerships to bring value to our customers. Our customers can now access robust IT solutions which allow them to scale their businesses seamlessly. The joint venture will provide significant opportunities to Saudi nationals to build strong careers in the area of information technology.”
Suresh Vaswani, president, Wipro Infotech said “the joint venture is a strategic move by both the partners and demonstrates our commitment to invest in the Saudi Arabian IT services market.” Through the JV, the customers will have access to Wipro”s broad portfolio of IT solutions customized for their business needs through a very strong local engagement model, he added. The joint venture provides a scalable and operationally efficient model for both partners to address the fast emerging segments in the Kingdom’s IT services market.
The corporates in Saudi Arabia will benefit from the joint venture as it will provide them an opportunity to enhance the quality of IT services significantly.
“Wipro has established itself among the leading system integrators in KSA. The joint venture provides a strong operationally efficient platform for scaling our presence further in the region. It will transform the customer experience significantly by seamlessly combining Wipro”s broad IT solutions portfolio, deep domain and technology expertise, and global delivery platform with Dar Al-Riyadh”s strong footprint and knowledge of local business requirements,” Vaswani further said.
“We are very excited about the joint venture. This opens up significant business opportunities for JV in the Saudi Arabia IT services market. The highly efficient operating model enabled by the joint venture provides business scalability and strong customer centricity in our operations in the region,” said Rajat Mathur, chief executive for international operations, Wipro Infotech.
