Wipro Hits The High Note: Invests USD 8.2 Million More In Opera Solutions

Wipro Hits The High Note: Invests USD 8.2 Million More In Opera Solutions


Wipro Limited promoted by billionaire Azim Premji has entered into a Series G Preferred Unit purchase agreement for raising its investment in Opera Solutions LLC by USD 8.2 million. An official statement issued by the Bengaluru based firm has indicated that following the additional investment, the classification of the investment will continue to be “Available for sale investment” according to Wipro.

A company statement which has been filed to the bourses has indicated that the firm also informed the Series G was made on October 8 this year. Earlier, the IT major had acquired a minority stake in Opera to the tune of USD 30 million in May, 2013.

Opera Solutions is the technology firm which was founded in the year 2004. This company promotes solutions which centre around Big Data Analysis. Advanced techniques are used by the company to extract value from Big Data by Opera Solutions. This company has around 200 machine learning scientists. It has a total of 700 employees.

Opera Solutions has offices in the US, the EU 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 organisations to rapidly turn raw Big Data into strategic advantage, profit, and productivity,” Wipro indicated in an earlier press release.

Wipro has invested USD 8.2 million in this international big data and analytics company for some time now. Opera specialises in machine learning to decipher Big Data flows to extract predictive patterns referred to as signals. Including its current investment, Wipro has invested around USD 53 million in Opera for around 20% stake in it.

The company had announced that it has entered into Series G Preferred unit purchase agreement to enhance investment in Opera solutions in its BSE filing. Opera Solutions is a New Jersey based company and the stake being acquired by Wipro following the recent investment had not been disclosed to the public. Turning raw data into strategic advantage works well in many fields and IT is no exception. Wipro's theme song seems to be strategisation and Opera Solutions LLC could be just what it needs to accomplish this.
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