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Wipro bags LIC's 5-yr IT outsourcing deal

14 May 2009 Evaluate

In another affirmation of its growing clout in the domestic market, Wipro has clinched an IT outsourcing deal from Life Insurance Corporation (LIC) by piping its large Indian rivals. The contract, which involves upgrade of LIC’s front-end IT application programmes (FEAP) to make these accessible through the web, is said to be worth about Rs 200 crore, and will be done over five years.

 

By making applications accessible through the web, LIC expects to reduce the load on its servers and improve the processing time. LIC expects to drastically reduce the cost of running the applications by making processing happen on the desktop.

 

It is understood that most large Indian IT outsourcing companies, including TCS, Infosys and L&T Infotech, had competed for the contract. It was considered prestigious, not because of its size but because it involved a prestigious public sector organisation like LIC.

 

The recent deals that Wipro has won, coupled with the strong pipeline the company has in the domestic market, is expected to make it the second largest player in the domestic market after IBM, which earns over $2 billion revenue from India.

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Wipro Share Price

197.95 0.60 (0.30%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 2394.85
Infosys 1179.20
HCL Tech. 1198.60
Wipro 197.95
Tech Mahindra 1463.05
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