IT companies partnerships form business with clients
Financial Express Mumbai|March 07, 2024
MANY RECENT DEALS of information technology (IT) firms show that vendor-client relationships are taking the shape of a business partnership between the two parties, wherein either the IT companies are doing business with their clients/former clients or monetising their assets by selling products to third parties.
SAMEER RANJAN BAKSHI

On Tuesday, IT major Wipro and General Motors, along with auto parts supplier Magna, announced that they are developing a B2B sales platform to buy and sell automotive software. General Motors has been a client for Wipro for many years. While Wipro disclosed that it has made an investment of $5.85 million by acquiring a 27% stake in SDVerse, GM and Magna will hold 46% and 27% stake, respectively.

Similarly, on Wednesday, Aramco Digital, the digital and technology subsidiary of Aramco, and LTIMindtree signed an agreement to form a joint venture in an IT services company in the Kingdom of Saudi Arabia, to provide information technology services in the Middle East and North Africa (MENA) region.Aramco has been a client for the larger L&T group for many years.

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