Wipro's corporate venturing unit has invested $5m for a minority stake in US IT consulting company, Axeda.
The corporate venturing unit of Wipro, a US-based IT consulting and outsourcing company, has invested $5m for a minority stake in US-based Axeda, a provider of cloud-based service and software and machine-to-machine (M2M) software application developer. Wipro made the investment to capitalise on what it believes is a rapidly evolving M2M market.
Wipro, which is already an Axeda ‘platinum’ partner, will receive preferential benefits, such as dedicated access to Axeda trained technical resources and premium support and services to drive…
