Wipro picks 26.1% stake in Drivestream

14 Jun 2017 Evaluate

Wipro has invested $809,690 (about Rs 5.12 crore) in management and IT consulting firm Drivestream. The cash consideration will see the company acquiring 19,679 preferred stocks and 27,865 common stocks of Drivestream. Wipro’s holding in Drivestream is now 26.1% (on a fully diluted basis).

This investment gives Wipro and Drivestream’s customers the ability to benefit from Drivestream’s market leading Oracle cloud HCM and Oracle cloud ERP solutions and Wipro’s end to end Oracle services. Wipro’s global customer base in the enterprise market coupled with Drivestream’s established credentials of successful cloud implementations in the mid-market will offer unparalleled value to the customers.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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