Wipro Sells Entire Stake In IT Services Provider Ensono
Wipro has sold its entire stake in information technology services provider Ensono for $76.24 million as part of the acquisition of Ensano by private equity player KKR. "As part of recently announced acquisition of Ensono by KKR, Wipro has sold its entire stake in Ensono Holdings, LLC for a consideration of US$ 76.24 million," Wipro said in a regulatory filing to the stock exchanges.
Consequent to the sale, Wipro does not hold any stake in Ensono Holdings, LLC, Wipro added.
In March 2018, Wipro had acquired 10.2 per cent stake in Ensono Holdings, LLC, the parent company of Ensono, for $55 million. This buy was part of a long-term partnership agreement to jointly address the hybrid IT requirements of Wipro's enterprise customers.
At 10:48 am, Wipro shares had edged lower by 0.6 per cent to Rs 535.55 as against a half a per cent rise in the benchmark indices.
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