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atcoitek.com

Stage

Acquired Unit | Acquired

About ATCO I-Tek

ATCO I-Tek is a high quality end-to-end IT service provider that specializes in enterprise asset management solutions, managed services, and customer care and billing.

ATCO I-Tek Headquarter Location

10035 - 105 St NW

Edmonton, Alberta, T5J 1C8,

Canada

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ATCO I-Tek Patents

ATCO I-Tek has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

2/21/2013

7/21/2015

Automotive transmission technologies, Hybrid electric cars, Subcompact cars, Automobile transmissions, Compact cars

Grant

Application Date

2/21/2013

Grant Date

7/21/2015

Title

Related Topics

Automotive transmission technologies, Hybrid electric cars, Subcompact cars, Automobile transmissions, Compact cars

Status

Grant

Latest ATCO I-Tek News

Wipro To Buy IT Services Business Of Canadian Firm ATCO

Jul 21, 2014

Mergers & Acquisitions | 21 July 2014 Wipro To Buy IT Services Business Of Canadian Firm ATCO by Tilak Devadiga   @Tilak Azim Premji led @Wipro_Limited Limited is acquiring the IT services business of Canadian logistics and utilities firm, ATCO for $195 Mn (c.INR 11.7 Bn). The buy comes along with the India’s third largest software services exporter inking one the largest outsourcing contract worth $1.1 Bn (INR 66 Bn) with ATCO. The IT services buinsess of ATCO housed under ATCO I-Tek is expected to result in additional annual revenue of about $112 Mn (c. INR 6,720 Mn) and is likely to start contributing to Wipro’s earnings sometime during the July-September quarter after the completion of the acquisition. ATCO I-Tek has been providing IT Services to ATCO for the past 15 years. Previously the company had had signed a five-year contract with ATCO I-Tek for business process outsourcing (BPO) services in 2009. The acquisition and the deal will enable provides Wipro to expand its presence in oil and gas-rich countries such as Canada and Australia adding by cashing on revenues from energy firms. Wipro's oil and gas unit generates over a $1 Bn of the company's $7.3 Bn (INR 440,000 Mn) in revenues. It would strengthen the company’s IT services delivery in North America and Australia and would also add the units 700 employees. In 2011, Wipro had acquired the US-based Science Applications International Corporation (SAIC)’s global oil and gas information technology business for $150 Mn (c.INR 9,000 Mn). Back in In 2008, it bought the IT arm of Citigroup Inc. in India for $127 Mn that gave it access to a $1 billion outsourcing contract from the company. Wipro had revenues of INR 391 Bn with a PAT of INR 73 Bn for the last fiscal. In February this year, Wipro bagged a 10-year contract from UK-based support services company, Carillion, to provide IT and BPO services. In December 2013, Wipro acquired US-based Opus Capital Markets Consultants for $75 Mn enhancing its presence in the mortgage space of the financial services sector and In April 2012, the IT firm acquired Australia-based Promax Applications Group (PAG) for A$35 Mn, gaining a foothold in the analytics space. It had also made a strategic investment of $30 million in US-based Opera Solutions, a big data analytics firm in May 2013. Founded in 1947, ATCO group of companies are engaged in Structures & Logistics (manufacturing, logistics and noise abatement), Utilities (pipelines, natural gas and electricity transmission and distribution), Energy (power generation, natural gas gathering, processing, storage and liquids extraction), and Technologies (business systems solutions) with assets over $16 Bn. ATCO I-Tek was formed in 1999 when the IT services from each of the ATCO Group of Companies combined into one area of expertise.

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