- Verizon Communications Inc VZ Verizon Business forged a global Network-as-a-Service (NaaS) partnership with Wipro Limited WIT, a technology services and consulting company, that will accelerate the network modernization and cloud transformation journey for businesses.
- Wipro's NaaS solution, powered by Verizon Business, will include a range of pre-configured and tested service chains on a subscription-based consumption model to drive network consumption infrastructure on demand.
- The multi-year partnership will enable Wipro to transition customers from legacy cycles of deploying hardware, applications, and services to an automated, self-healing, and highly secure network service environment.
- Jo Debecker, SVP & Global Head of Cloud and Infrastructure Services at Wipro, commented: "Our joint NaaS offering brings together two industry leaders to drive this unique value proposition that will help our customers keep pace with changing demands of the cloud and network infrastructure while achieving operational efficiencies and agility at scale."
- Wipro reported second-quarter FY23 gross revenue of $2.77 billion, an increase of 14.6% Y/Y, missing the consensus of $2.86 billion.
- IT Services revenue grew 8.4% Y/Y to $2.8 billion. EPS of $0.06 missed the consensus of $0.07.
- Price Action: WIT shares closed at $4.95 on Tuesday.
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