Wipro secures $500 million deal from US communication service provider

Mumbai: IT major Wipro on Thursday announced it has secured a $500 million deal from a leading US communication service provider over a period of five years.

In a stock exchange filing, the IT services company said it would provide managed services for some products and industry-specific solutions to the US-based firm.

"Wipro has been awarded a $500 million deal by a leading US Communication Service Provider," it said in the filing, adding that the agreement is for a period of five years.

Wipro, however, did not divulge the name of the US-based company. The company’s shares closed 2 per cent higher at Rs 461.6 apiece on Thursday.

Last month, more than three-fourths of Wipro's public shareholders voted against the $4.33 million cash severance to former CEO Thierry Delaporte, according to a company’s regulatory filing. According to the BSE filing, nearly 80 per cent of public shareholders voted against the cash compensation awarded to Delaporte. Delaporte resigned as Managing Director and CEO on April 6.

Meanwhile, Adani Ports and Special Economic Zone (SEZ) is set to join Sensex from June 24 after the BSE rejig, likely to replace Wipro in the benchmark Sensex. The BSE benchmark will drop from the index on the same day.