Wipro in final stages to acquire Drivestream

Earlier this year, Wipro announced it had invested $5 million in Drivestream.

Wipro is in the final stages of acquiring Drivestream, a management and IT consulting firm, according to reports..

Headquartered in Washington, DC, Drivestream provides Oracle-based cloud services across sectors ranging from insurance, healthcare to telecom.

Earlier this year, Wipro announced it had invested $5 million in Drivestream through its venture capital arm, Wipro Ventures.

Wipro also announced the acquisitions of US-based Viteos Group for $130 mn.

Wipro Ltd ended at Rs. 558.2, down by Rs. 5.35 or 0.95% from its previous closing of Rs. 563.55 on the BSE.

The scrip opened at Rs. 564.1 and touched a high and low of Rs. 567.75 and Rs. 556 respectively. A total of 529675(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 137896.01 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 676.9 on 11-Mar-2015 and a 52 week low of Rs. 512.55 on 24-Apr-2015. Last one week high and low of the scrip stood at Rs. 567.9 and Rs. 554.5 respectively.

The promoters holding in the company stood at 73.36 % while Institutions and Non-Institutions held 15.29 % and 9.38 % respectively.

The stock traded above its 200 DMA.