Billionaire Azim Premji promoted Wipro Limited has
entered into a Series G preferred unit purchase agreement to increase
its investment in Opera Solutions LLC by $ 8.2 million.
According
to a statement made by the Bangalore-based company, post the additional
investment, Wipro will continue to classify the investment as
‘Available for sale investment’.
In a company
statement filed to the bourses the company also informed that the Series
G was made on October 8, 2014. Wipro had earlier acquired a minority
stake in Opera for $30 million in May last year.
Opera
Solutions is a technology company founded in 2004 which uses advanced
techniques to extract value from Big Data. With approximately 200
machine learning scientists among its 700 employees, Opera has offices
in North America, Europe and Asia.
“Big Data
represents an unprecedented opportunity for business value creation but
many enterprises do not have the right technology or the science to
access its power. Opera Solutions supplies these critical capabilities
in a form that allows organizations to rapidly turn raw Big Data into
strategic advantage, profit, and productivity,” Wipro had said in an
earlier press release.
