Wipro acquires minority stake in Kibsi

IT company Wipro has bought a minority stake of less than 20% on a fully diluted basis in US-based Kibsi for $1.5 million. With this minority strategic investment, the company aims for a business partnership in the domain of computer vision applications.

Kibsi Inc. offers a cloud-native, low-code platform that democratises computer vision, enabling customers to focus on their business needs. Kibsi Inc. develops a fully integrated end-to-end environment designed for building computer vision applications.

Recently, Wipro Gallagher Solutions, a wholly owned subsidiary of Wipro, sold its stake in Wipro Opus Risk Solutions. With this transaction, Wipro Gallagher divested only the non-core mortgage due diligence business, while retaining the core mortgage business with itself through other subsidiaries.

“Wipro Gallagher Solutions Inc, a wholly owned subsidiary of Wipro Limited, sold all of its membership interest (participation) in Wipro Opus Risk Solutions LLC yesterday (i.e., December 21, 2022),” the company said.