Wipro takes minority stake in Drivestream, invests $5 mn

Wipro and Drivestream announced that they have signed an agreement to enter into a strategic partnership to build an integrated Cloud Solutions stack for customers. As part of this arrangement, Wipro is investing $5 mn in Drivestream, a leading Oracle cloud applications systems integrator. This is part of Wipro’s strategic drive to actively participate in the external innovation ecosystem, for which the company has set up Wipro Ventures, a $100 mn fund focused on investing in disruptive start-ups.

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.

"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 BM, Chief Executive, Application Services and Strategic Alliances, Wipro.