Wipro has sold its entire stake in IT Services Provider Ensono for $76.24
Bengaluru-based, IT major, Wipro has sold its entire stake in hybrid IT services provider Ensono for $76.24 (about Rs 51.7 crore) to global investment firm KKR.
“As part of the recently announced acquisition of Ensono by KKR, Wipro has sold its entire stake in Ensono Holdings, LLC for a consideration of US$ 76.24 million,” Wipro said in a regulatory filing.
Consequent to the sale, Wipro does not hold any stake in Ensono Holdings, LLC, Wipro added.
Ensono Technologies, previously Acxiom’s Infrastructure Management business, was acquired by Charlesbank and M/C in 2015 for $190 million. The company provides a number of data center, disaster recovery, and mainframe services, as well IT consultancy.
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.
Ensono, a leading hybrid IT services provider, has been named a leader across three quadrants in the 2021 ISG Provider Lens™ Mainframe Services & Solutions U.S. report.
Ensono was recognized for its deep knowledge around mainframe and modernization, flexibility in allowing clients to shift workloads across varied service platforms, ability to help clients integrate their mainframes with cloud infrastructures, and partnerships with AWS and Microsoft Azure.
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