Wipro Picks Minority Stake in US-based Cloud Tech Firm Drivestream for $5M

Image Source: wipro

Image Source: wipro

Wipro Limited and Drivestream Inc., an Oracle cloud applications systems integrator, have 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 USD 5 million in Drivestream Inc. through Wipro Ventures, a USD 100 Million fund focused on investing in disruptive startups.

This investment is aimed to extend Wipro’s leadership in the Oracle application services space particularly in cloud applications. This partnership also gives Wipro and Drivestream’s customers the ability to benefit from startup’s Oracle cloud HCM and Oracle cloud ERP solutions.

Drivestream is a management and IT consulting firm specializing in Oracle Cloud Services (ERP, HCM, planning and budgeting) on-premise People Soft application implementation, enhancements, upgrades and ongoing support.

Bengaluru-based Wipro is an IT, Consulting and BPO services company. In May 2013, the company had invested $30 million in a New Jersey based Big Data company Opera Solutions LLC to acquire a minority stake.