Wipro invests $9.9 m in US firm for 16% stake

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Bengaluru | Published: January 25, 2018 6:26:34 AM

Wipro, the country's third-largest IT services exporter, has announced $9.9-million investment in US-headquartered digital marketing company Harte Hanks to pick up a 16% stake.

wipro, Wipro invests, wipro stake, digital marketing company, it services, marketing technology servicesWipro, the country’s third-largest IT services exporter, has announced $9.9-million investment in US-headquartered digital marketing company Harte Hanks to pick up a 16% stake.

Wipro, the country’s third-largest IT services exporter, has announced $9.9-million investment in US-headquartered digital marketing company Harte Hanks to pick up a 16% stake. In a notice to the exchanges, Wipro said under this deal, both companies will expand their existing partnership to offer end-to-end marketing technology services. They will jointly market a big data analytics and machine learning platform, Opera Solutions Signal Hub. Harte Hanks, which was founded in 1923 with more than 5,000 employees globally, reported a net loss of $2.7 million for the second quarter of 2017 calendar year. Revenues stood at $94.7 million. The company’s revenue has been declining since 2014. In 2014, revenue stood at $499.4 million; it dropped to $404.4 million in 2016. That year, the net loss from continuing operations was $89.8 million. Harte Hanks specialises in omni-channel marketing solutions including consulting, strategic assessment, data and analytics.

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