Wipro

Wipro Limited, one of India's largest IT services companies, reported revenue of approximately $8.1 billion in FY2021 (year ended March 2021). Under CEO Thierry Delaporte (appointed July 2020), the company faced a strategic gap: Wipro was primarily positioned as a cost-play IT outsourcer for application maintenance and infrastructure management, but lacked the consulting depth and cloud capabilities needed to serve as a strategic transformation partner. Clients engaged Wipro for lower-value work and turned to Accenture, Infosys, or TCS for higher-value digital transformation and cloud engagements. Wipro's client base was strong — 1,120 clients with 98% retention and 280 new logos added in FY2021 — but the company was underleveraged within accounts. Clients spending more than $75 million annually numbered only 27 (up from 22 in FY2020), suggesting significant room for wallet share expansion.

Delaporte launched a multi-pronged expansion strategy combining organic investment with capability-building acquisitions:

• FullStride Cloud Services ($1 billion investment): In July 2021, Wipro announced a $1 billion investment over three years in cloud capabilities — the largest strategic investment in the company's history. FullStride Cloud Services combined consulting, engineering, and managed cloud services to address the full cloud lifecycle, positioning Wipro as a credible cloud transformation partner rather than just an infrastructure manager.
• Capco acquisition ($1.45 billion, completed April 2021): Wipro's largest-ever acquisition brought Capco, a global management and technology consultancy to the banking and financial services industry. With approximately 5,000 consultants, Capco gave Wipro premium consulting capabilities in BFSI — its largest vertical — enabling higher-value engagements that traditional IT outsourcing could not access.
• Rizing acquisition ($540 million, announced April 2022): Acquired Rizing, a global SAP consulting company, to create an SAP consulting powerhouse. This added specialized enterprise application capabilities that could be cross-sold to existing Wipro accounts undergoing ERP transformations.
• Edgile acquisition ($230 million): Acquired Austin-based Edgile (US$44 million CY2020 revenue) to add cybersecurity consulting capabilities, addressing a fast-growing client need that Wipro had previously lacked in-house.
• : Deepened relationships with AWS, Azure, and Google Cloud, earning top-tier partner certifications. These provided co-selling opportunities where hyperscalers introduced Wipro's FullStride services to their enterprise client bases.