Wipro is now ranked as the second largest Indian IT services company. The company, which has a strong presence across fast-growing areas such as infrastructure management and BPO and an ambitious geographic acquisition programme, has recorded solid organic growth in the US of 7.2% quarter on quarter and 30% year on year against a stalling economy. Revenue at Wipro Infotech (its Asia-Pacific business) has advanced some 53% year on year. Recent acquisition Infocrossing has contributed revenues of some $60 million.

To add to the positive news, Wipro has reported positive demand across all segments of its business, including the addition of 25 US clients, and has other large deals in the pipeline. The chilly US economic climate, especially in the disastrously performing finance sector, has not significantly impacted on its business to date, and a majority of clients are expected to maintain their IT budgets at or slightly above 2007 levels, says the company.

Chairman Premji has outlined key strategic priorities for the company that emphasise account penetration; non-linear growth; large deals; talent access and employee-mix; game-changing partnerships with major players,such as Cisco, Microsoft, SAP and EMC; consulting expertise; investment in high-growth regions; and further acquisitions to bridge gaps in its service portfolio.

Wipro recently announced a strategic alliance with Cisco to jointly deliver network-based IT solution, and this anticipates cumulative revenue of $1 billion over three years.

Wipro confirmed last week that it is not in takeover discussions with Capgemini.