Citi expands relationship with Wipro to BPO work

By SiliconIndia   |   Friday, 30 October 2009, 10:16 Hrs
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Bangalore: Since selling its captive technology unit to Wipro Technologies last December, Citigroup has expanded its engagement with the Indian vendor by also offering business process outsourcing contracts. "We have been able to extend the original engagement from only in IT space to BPO," said Girish Paranjpe, joint CEO, Wipro Technologies. "We are doing significant amount of work in BPO for Citi."

Details of the exact revenue contribution from Citi to Wipro was not available. However, Citi is one of the top five clients of Wipro Technologies. The unnamed top client of Wipro accounted for 2.7 percent of the company's September quarter revenues, reports Business Line.

Paranjpe said that Citi Technology Services (CTSL), the erstwhile captive unit of Citigroup, has now been fully integrated with Wipro and is doing well. Wipro acquired the India-based CTSL for $127 million ( 615.8 crore) in an all cash deal last December.

As part of the deal, Wipro had signed a master services agreement for delivery of technology infrastructure services and application development maintenance services for six years, under which the banking giant would source services worth at least half a billion dollars from the Indian vendor.

Before the CTSL sell off, Citigroup had sold its BPO captive unit to TCS in October last in a $505-million deal as part of restructuring its operations by exiting non-core businesses.

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