Indian IT firm Wipro sells its stake in Ensono for $76.24m
Photo: Reuters
May 31, 2021
IT major Wipro today announced that it will sell its entire stake in Ensono Holdings, LLC for a consideration of $76.24 million.
In a regulatory filing Wipro said, “As part of the recently announced acquisition of Ensono by KKR, Wipro has sold its entire stake in Ensono Holdings, LLC for a consideration of $76.24 million. Consequent to the sale, Wipro does not hold any stake in Ensono Holdings, LLC.”
It was in March 2018, Wipro and Ensono, a leading hybrid IT services provider, had signed a long-term partnership agreement to jointly address the hybrid IT requirements of Wipro’s new and existing enterprise customers. As part of this agreement, Wipro had made a strategic investment of $ 55 million for a 10.2% stake in Ensono’s combined entity, Ensono Holdings, LLC.