Wipro is a strong gainer on the BSE currently, up amongst the top five gainers. It  opened higher at Rs.542 went on to hit an intra day high at Rs.554.20 and presently remains at the same high levels, up 3%.

The stock is up after the company today announced that it has entered into a strategic alliance with Alberta-based ATCO, one of Canada's premier corporations. In the issued Press Release, the company has stated that as part of this alliance, Wipro will provide total outsourcing solutions to ATCO in Canada and Australia. Wipro and ATCO have signed a series of master services agreements under which Wipro will provide the complete suite of IT services to ATCO. The arrangement is projected to result in revenues of over CAD 120 million ($112 million) to Wipro annually, for the next ten years, up to December 2024.

Wipro's IT services delivery model will be further strengthened in North America and Australia by ATCO I-Tek, a subsidiary of ATCO with a presence in both these geographies, which will now become a part of Wipro for an all-cash consideration of CAD 210 million ($195 million). ATCO I-Tek has been providing IT Services to ATCO for the past 15 years. The transaction is subject to customary closing conditions.

The company is scheduled to announce its Q1FY15 numbers on 24^th July.