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    HomeNewsBusinessWipro acquires 26% stake in Drivestream

    Wipro acquires 26% stake in Drivestream

    The cash consideration will see Wipro acquiring 19,679 preferred stocks and 27,865 common stocks, Wipro said in a BSE filing.

    June 14, 2017 / 09:45 IST
    wipro-new

    The country’s third largest software services firm Wipro has invested USD 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 USD 20.5 million in 2016.

    first published: Jun 14, 2017 09:35 am

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