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Energy And Utilities Vertical To Generate $1 Bn Revenue For Wipro

Indian software company, Wipro is finding oil as black gold for the company as the energy and utilities space are becoming lucrative enough for Wipro to generate annual revenue of $1 billion. The energy and utilities vertical of Wipro is contributing around $900 million, or 15 per cent of total sales and has become the fastest growing business unit as the company in April 2011 acquired oil and gas practice of US-based Scientific Applications International Corp (NYSE:SAIC) for about $150 million, said the media report. Beyond basic IT support services, Wipro now works with oil companies to analyze the copious amount of data generated by sensitive sonar probes sent to oil wells to generate intelligence on the presence of oil or gas.

Source - Wipro