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Wipro Acquires 26% Stake In This IT Consulting Firm
Highlights
The country\'s third largest software services firm Wipro has invested $809,690 (about Rs. 5.12 crore) in management and IT consulting firm Drivestream.The cash consideration will see Wipro acquiring 19,679 preferred stocks and 27,865 common stocks, Wipro said in a BSE filing.
The country's third largest software services firm Wipro has invested $809,690 (about Rs. 5.12 crore) in management and IT consulting firm Drivestream.The cash consideration will see Wipro acquiring 19,679 preferred stocks and 27,865 common stocks, Wipro said in a BSE filing.
Wipro now holds 26.1 per cent share in Drivestream (on a fully diluted basis), it added.
Established in 2001, Drivestream is privately held and has a workforce of around 73 employees in the US.Its revenue stood at $20.5 million in 2016.
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