Indian computer software provider Wipro has told Reuters News Agency that its five-year deal with General Motors was below the previously reported value of US$300m.
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Wipro signed the deal with GM last week (2 February) with GM to integrate the company’s Middleware Systems and Information Systems and Services (IS&S) software tools for a five-year agreement starting this month.
According to Reuters the company has now distanced itself from reports – carried widely in India and abroad – that the deal was worth US$300m.
In a statement responding to the reports, the company said: “We have noticed media reports on the contract we have signed with GM including various values being attributed to it.
“We wish to reiterate that we are honoured to be identified as a Tier 1 vendor by GM. In our interaction with media yesterday, in response to specific queries, we shared our estimates of potential revenue from GM over the next 5 years which includes our current revenues, expected revenue from GM through our partner and value of our direct contract with GM.”
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By GlobalDataLast week’s story:
INDIA: GM contracts Wipro for IT project
https://www.just-auto.com/news_detail.asp?art=50776
