Wipro, a leading global information technology, consulting and business process services company, announced it has invested $1.2 million in Squadcast, as part of a business partnership with the software-as-a-service (SaaS) startup to provide IT incident response and site reliability engineering services.
The transaction is expected to be completed during the quarter ending June 30, 2021, the regulatory filing said.
Wipro will acquire a strategic minority stake of under 20% in Squadcast, according to a regulatory filing.
Founded by Amiya Adwitiya and Sisir Koppaka in 2017, Squadcast offers services that help enterprises ensure that their IT services are always up and running. The company was incorporated in Delaware in 2018 and has offices in Bengaluru and Palo Alto. It counts companies such as Udaan, SonyLiv, Carnegie Mellon University, Ninjacart and Coinbase as customers.