Wipro sells its entire stake in Ensono for $76.24 million
Wipro has sold its entire stake in hybrid IT services provider Ensono for $76.24 million as part of the Illinois-based company’s acquisition by private equity giant KKR.
Recently, Wipro had made a strategic investment of $55 million for a 10.2 percent stake in Ensono Holdings, LLC, the parent company of Ensono, after the company acquired its hosted data centre business for $405 million.
The Company states, “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.”
Wipro and Ensono had also entered into a long-term joint venture agreement to jointly address the hybrid IT requirements of Wipro’s enterprise customers. As part of the 2018 deal, Wipro sold eight data centres and more than 900 employees to Ensono.
The terms of the deal between KKR and Ensono were not disclosed. The report states, citing unnamed sources familiar with the matter that the deal could be worth $1.7 billion, including debt. Ensono and KKR had said that the deal would be closed in 60 days, subject to regulatory approvals and closing of other customary conditions.