Wipro sells 100% stake in IT firm Ensono for USD 76.24 million

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Indian multinational corporation- Wipro has announced the sale of its entire share in Ensono- an IT services provider for USD 76.24 million as part of the latter’s acquisition by private equity firm KKR, announced in April 2021.

In March 2018, Wipro had made an investment of USD 55 million in Ensono Holdings, acquiring a 10.2% share in the parent company of Ensono, after the firm purchased its hosted data center business for nearly USD 405 million. As per an official statement by Wipro, after the sale, the company will not hold any share in Ensono Holdings LLC.

Notably, both the companies had inked a long-term partnership agreement to address various IT needs of enterprise clients of Wipro. Under a 2018 deal, Wipro sold approximately eight data centers and over 900 employees to Ensono.

As for the recent move, the terms and conditions of the transaction between Ensono and KKR were not disclosed. However, an anonymous source close to the news mentioned that the deal could be valued at approximately USD 1.7 billion, inclusive of debt.   

Both Ensono and KKR have claimed that the deal will close in 60 days, subject to regulatory approvals and the closing of other conditions.  

Established in the year 1945, Wipro has been known to offering complete IT management solutions for large and mid-sized companies, and operates some of the leading data centers, across the globe.

The company has laid expertise across various computing ecosystems and platforms, such as iSeries, Windows, Unix, and Linux networks, and also provides a wide array of delivery models from customized solutions delivered to the data centers owned by Wipro to cloud computing.

On the other hand, Ensono extends hybrid IT solutions, ranging from cloud to a mainframe that allows customers to digitally transform their operations.

Source Credit: https://economictimes.indiatimes.com/tech/information-tech/wipro-sells-its-entire-stake-in-it-services-provider-ensono-for-76-24-million/articleshow/83092901.cms