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Wipro acquires 26 pc stake in Drivestream

Press Trust of India  |  New Delhi 

The country's third largest software services firm has invested USD 809,690 (about Rs 5.12 crore) in management and IT consulting firm Drivestream.

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



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 stood at USD 20.5 million in 2016.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Wipro acquires 26 pc stake in Drivestream

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. The country's third largest software services firm has invested USD 809,690 (about Rs 5.12 crore) in management and IT consulting firm Drivestream.

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

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 stood at USD 20.5 million in 2016.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Wipro acquires 26 pc stake in Drivestream

The country's third largest software services firm has invested USD 809,690 (about Rs 5.12 crore) in management and IT consulting firm Drivestream.

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

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 stood at USD 20.5 million in 2016.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22