UK Link is a suite of highly complex information and technology systems, managed by Xoserve on behalf of the UK gas industry that ensures smooth running of Britain’s gas market.
Country’s third largest software services firm Wipro Wednesday said it has bagged a seven-year deal from UK-based Xoserve. No financial details of the deal were disclosed.
Xoserve supports Britain’s gas market through the provision of centralised information and data services for gas transporters and shippers. It is jointly owned by five major gas distribution network companies and National Grid’s Gas Transmission business.
The Wipro contract is part of the UK Link Programme, which will involve the replacement of Xoserve’s two decade-old legacy UK Link suite of applications with more contemporary technologies, Wipro said in a statement.
UK Link is a suite of highly complex information and technology systems, managed by Xoserve on behalf of the UK gas industry that ensures smooth running of Britain’s gas market.
“The new platform will enable Xoserve to meet the expected demand growth generated by the roll-out of Smart Meters in the UK as well as enable Xoserve to be more responsive to changes in the gas market,” Wipro said.
The UK Link Programme, led by Xoserve and supported by a number of business partners, will help meet a number of customer and industry wide requirements for the medium to long term.
“This is an immensely prestigious project for us and we look forward to partnering with Xoserve to ensure seamles delivery of this critical programme,” Wipro Global Head Utilities (Energy, Natural Resources and Utilities) business unit Arun Krishnamurthi said.
The changes will bring in the ability to receive and store more meter readings, to introduce more flexibility in system enhancement and reporting and the ability for the gas market to utilise information from smart meters for the benefit of customers.
“The UK Link suite of IT systems is the life blood of the competitive gas market; enabling key processes that are critically important to the whole industry,” Xoserve CEO Chris J Murray said.
Wipro stock price
On May 23, 2014, Wipro closed at Rs 489.00, up Rs 5.50, or 1.14 percent. The 52-week high of the share was Rs 610.50 and the 52-week low was Rs 315.30.
The company’s trailing 12-month (TTM) EPS was at Rs 29.69 per share as per the quarter ended March 2014. The stock’s price-to-earnings (P/E) ratio was 16.47. The latest book value of the company is Rs 98.22 per share. At current value, the price-to-book value of the company is 4.98.
source: http://www.moneycontrol.com / MoneyControl.com / Home> News> Business / source: PTI / May 14th, 2014