Global IT outsourcing giant Wipro Limited has invested in application security firm Denim Group. WiPro didn't disclose financial terms of the minority investment, but various reports peg the dollar figure at US$8.83 million in cash.
Denim Group, based in Texas, opened its doors in 2001 and is perhaps best known for its ThreadFix product, an application vulnerability correlation and resolution platform. ThreadFix is designed to give security practitioners the ability to understand the security posture of their applications and conduct efficient and effective remediation, the company says. The company has about 60 employees spread across its Austin and Dallas offices.
Sheetal Mehta, VP & global head, Cybersecurity & Risk Services, Wipro, says the investment strengthens Wipro’s portfolio of digital transformation services while tapping into services for embedding security in software development methodologies like Agile and DevOps.
The companies are betting the partnership will aptly combine Wipro’s digital transformation and cybersecurity capabilities with Denim Group’s application security consulting, assessments, and implementation services, including DevSecOps and secure development training services.
Wipro, India’s third-largest IT services provider, has been an active investor. The company in June invested more than $800,000 in Drivestream, an Oracle cloud services partner. That move came more than two years after Wipro invested $5 million in Drivestream in a partnership to build an integrated cloud solutions stack.