Indian IT services provider Wipro has acquired an almost 20% stake in US start-up Avaamo, via its investment arm, Wipro Ventures, in a cash deal worth more than $2m. Emailage Corporation. The acquisition also includes an additional sum in the form of convertible notes, taking the total investment to more than $3m. “Avaamo is one of India’s most innovative and fastest growing startups, with over 10,000 customers across India who are using our products every day,” said Rajeev Bhatia, CEO of Wipro.
Indian IT services provider Wipro has acquired an almost 20% stake in US start-up Avaamo, via its investment arm, Wipro Ventures, in a cash deal worth more than $2m. The acquisition also includes an additional sum in the form of convertible notes, taking the total investment to more than $3m. “Avaamo is one of India’s most innovative and fastest growing startups, with over 10,000 customers across India who are using our products every day,” said Rajeev Bhatia, CEO of Wipro.