By March 19, 2015 Read More →

Wipro takes minority stake in Drivestream Inc. – Invests USD 5 Million

Wipro Limited (NYSE:WIT) and Drivestream Inc. have announced they have signed an agreement to enter into a strategic partnership to build an integrated Cloud Solutions stack for customers. As part of this arrangement, Wipro is investing USD 5 million in Drivestream Inc., a leading Oracle cloud applications systems integrator. This is part of Wipro’s strategic drive to actively participate in the external innovation ecosystem, for which the company has set up Wipro Ventures, a USD 100 million fund focused on investing in disruptive start-ups.

Software-as-a-service represents an unprecedented opportunity for business value creation. This investment will further extend Wipro’s leadership in the Oracle application services space particularly in cloud applications, which is poised to see high growth with its disruptive value proposition.

This partnership 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.

“This investment into Drivestream reflects Wipro’s continued commitment to help our customers adopt Oracle cloud applications. This unique complement of strengths between the two companies will enable us to jointly deliver value to our customers and enhance our leadership in the Oracle cloud market space,” said Bhanumurthy B.M., Chief Executive, Application Services and Strategic Alliances, Wipro Ltd.

Gopal Krishna, President and Chief Executive Officer of Drivestream Inc., said, “We are very honored that a top brand and a global market leader, Wipro, has observed us, taken notice of our unique capabilities and our market potential as the leading partner for Oracle Cloud applications. We attribute our growth and this recognition to our innovative cloud service solutions that create significant value for both Oracle and its cloud customers. Wipro’s investment in Drivestream will fuel our ongoing efforts for continued creativity in the cloud service space. This strategic partnership with Wipro positions us for significant scalability both in the US and around the globe.”


Posted in: News

Post a Comment

Your email address will not be published.

( required )

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>