1. Wipro buys minority stake in Drivestream Inc for $5 mn

Wipro buys minority stake in Drivestream Inc for $5 mn

Wipro plans to build an integrated Cloud Solutions stack for customers

By: | New Delhi | Published: March 17, 2015 7:54 PM
Wipro, Wipro Ltd, Azim Premji

Azim Premji-led Wipro is investing million in Drivestream Inc., a leading Oracle cloud applications systems integrator. (AP)

Wipro Limited and Drivestream Inc. today announced that they have entered into a strategic partnership to build an integrated Cloud Solutions stack for customers.

As part of this arrangement, Wipro is investing $5 million in Drivestream Inc., a leading Oracle cloud applications systems integrator.

“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.

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.

Gopal Krishna, President and Chief Executive Officer of Drivestream Inc. said, “We are very honoured 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.”

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