Domestic IT firms strike alliances with clients for selling third party products

Many recent deals of IT firms show that vendor-client relationships are taking the shape of business partnership between the two parties, wherein either IT companies are doing business with their clients/former clients or monetising clients’ assets by selling products to third parties.

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.