US-based Cisco, India's Wipro agree to jointly develop technology solutions

[OhioChick]

Source: AP

Published: October 31, 2007

NEW DELHI: U.S.-based Cisco Systems Inc. and Indian software company Wipro Ltd. agreed Wednesday to develop information technology service solutions in a tie-up that could fetch US$1 billion (€700 million) in new business annually for the two companies.

Under the agreement, Cisco and Wipro will develop and deliver software services that incorporate Cisco's networking technology and Wipro's expertise in outsourcing business, a joint statement said. The services will be offered globally, with an initial focus on India, the Middle East and Africa, it said.

"This strategic alliance illustrates Cisco's commitment to building relationships with new partners in emerging parts of the world," said Wim Elfrink, Chief Globalization Officer at Cisco. Three years from now the tie-up could mean an extra US$1 billion in annual revenues to the two companies, Elfrink said.

Cisco will set up a center at Wipro's campus in Bangalore, where the companies will work together to develop their new products, the statement said. In the future, Cisco and Wipro will collaborate to develop solutions to support sectors such as health care, financial services, retail, real estate and transportation, it said.

Global technology companies have increasingly partnered Indian outsourcing firms to expand customer base and streamline their businesses.



Read more: http://www.iht.com/articles/ap/2007/10/31/business/AS-TEC-India-Wipro-Cisco.php