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Wipro announces Co-innovation Space with Google Cloud

Wipro after market hours on Friday announced the launch of the Wipro-Google Cloud Innovation Arena to accelerate adoption of cloud.

Wipro said the cloud collaboration space will provide in-house technical expertise, ensure seamless cloud adoption and accelerate innovation to drive business transformation for customers. By combining the expertise and resources of Wipro FullStride Cloud Services and Google Cloud innovation center will offer a unique combination of people, processes, and platforms that will collectively create a futuristic experience for customers globally.

Jason Eichenholz, senior vice president of global head of ecosystems of Wipro said, We are excited to strengthen our partnership with Google Cloud, and look forward to leveraging the Wipro-Google Cloud Innovation Arena to increase cloud capabilities, build solutions across industries, and help our customers simplify their processes and workflows. This new Innovation Arena is the latest example of Wipro’s continued commitment to providing customers with world-class resources and support, and a vision for their cloud future.

This new Innovation Arena is the latest example of Wipro’s continued commitment to providing customers with world-class resources and support, and a vision for their cloud future.”

“Innovation and business differentiation are key drivers of cloud adoption, which is why innovation labs where customers can brainstorm, design, and pilot innovation use cases with the help of industry experts have become increasingly important,” said Kevin Ichhpurani, Corporate Vice President, Partner Ecosystem and Google Cloud.

“We are pleased to be furthering our partnership with Wipro to provide our customers with the resources they need to take their cloud journey to the next level.”

Wipro Limited is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 200,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F.

HighBar Partners, a Menlo Park, CA-based private equity investor, today announced its acquisition of SilkRoad Technology, a global software and cloud-based technology platform designed to increase employee satisfaction and productivity. In combination with the deal, HighBar Partners will provide additional growth equity financing to further develop SilkRoad’s industry-leading SaaS capabilities, elevate its technology stack and deliver new secure global business solutions that support digital and workforce transformation in this expanding market.

The investment follows a year and a half of global workforce changes, which has presented business leaders with a once-in-a-lifetime opportunity to reevaluate and reinvent the role and impact of talent within their organizations. Existing investors Foundation Capital and Two Sigma Ventures are participating in the growth equity financing for SilkRoad with HighBar.

“HighBar is thrilled to partner with SilkRoad Technology as we recognize the criticality of the employee experience and the need for digital solutions to drive mobility, productivity and revenue performance,” said Jayson Yuan, Partner, and HighBar Partners. “SilkRoad’s existing capabilities in and vision for the talent management space put the company in a strategic position to drive significant change for enterprise organizations, to assist in the deployment of talent where the organization needs it most, and to accelerate employee contributions delivering impactful outcomes for its customers. Finally, we welcome the continued participation and partnership of Foundation Capital and Two Sigma as recognition of SilkRoad’s vision and capability to excel in the coming years.”

“Entering this new phase of growth and innovation, we’re excited to partner with HighBar as we share a client-centric, innovative, outcome-oriented approach. HighBar offers resources and guidance to organizational strategy and performance that we’ll need to lead clients to new levels of resilience and business value. Stronger executive insights, enterprise visibility and modeling will help companies adopt agile talent strategies powered by an energized, continuously relevant employee base,” said Robert Dvorak, President and CEO of SilkRoad Technology. “Together, our core solutions and long-term capabilities will put our clients in a position to effectively navigate any change or disruption with greater predictability that doesn’t exist today.”

Cowen, Inc., served as financial advisor to SilkRoad Technology and Winston & Strawn, LLP, served as legal counsel. Goodwin Proctor, LLP, served as legal counsel to HighBar Partners. Debt financing for the transaction was provided by Bridge Bank.

HighBar Partners is a private investment firm that provides strategic growth capital to enterprise and infrastructure software companies, with a focus on long-term value creation. HighBar structures its investments to align all stakeholders, while working alongside management teams to develop a long-term strategy to unlock operational value.

Since 2003, SilkRoad Technology’s software and services platform has helped our clients attract, retain and align people to their business. Their solutions start with Global Client Services to provide strategic HR and business expertise. SilkRoad then designs secure solutions tailored to individual business requirements at scale for global companies. They deliver personalized experiences for employees to drive engagement across the employment lifecycle to enable measurable and improved business outcomes.

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