Wipro to get at least $100 million more with renewed BP contract
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BP, world's leading oil and gas company, has refurbished its outsourcing strategy. As a result, it has revamped its multi-million dollar contract with Wipro, as reported by ET.
BP, in its capacity as one of the supermajors, spends around $1 billion on technology per year, and is a large customer of India's information technology industry, which stands at $146-billion. BP, however, has now decided to reduce the number of outsourcing companies that it hands out its business to.
Wipro, on the other hand, currently gets well over $100 million of its annual business from the British company, and with a revamped contract, is likely to get at least $100 million more business over the next 2-3 years.
"BP has decided to consolidate the number of vendors it does business with - for them at this point it makes sense to go with 2-3 vendors, rather than 5-6 different vendors, given the current pressures on technology spending," said one of the sources. "As a result, some vendors such as Wipro, IBM and Infosys have gained, while others have lost out," the person continued.
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