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23 July, 2018 19:20 IST
Wipro completes divestment of data center services business to Ensono
Source: IRIS | 29 Jun, 2018, 10.11AM
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Wipro has completed the divestment of Wipro Data Centre and Cloud Services, Inc. (USA), and data center business in Germany and UK to Ensono, a leading hybrid IT services provider for a consideration of USD 399 million on June 27, 2018. The impact of this divestment is expected to reflect in the financials of the Company for the quarter ending June, 30 2018.

The divestment of data center operations in India is likely to be completed during the quarter ending September 30, 2018, subject to receipt of requisite regulatory approvals and customary closing conditions. Upon completion of such divestment, the Company will receive the remaining consideration of USD 6 million from Ensono.

Further, Wipro LLC, a wholly owned subsidiary of Wipro, has completed the acquisition of 10.2% stake in Ensono Holdings, LLC on June 27, 2018.

Shares of the company gained Rs 0.75, or 0.29%, to trade at Rs 257.75. The total volume of shares traded was 15,014 at the BSE (9.58 a.m., Friday).

Wipro Limited   (Q,N,C,F)*

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