Wipro sells stake in Ensono for $ 76.24 million

IT major Wipro announced today that it will sell its entire stake in Ensono Holdings, LLC for $ 76.24 million.

In a regulatory filing, Wipro said: “In connection with the recently announced acquisition of Ensono by KKR, Wipro sold its entire stake in Ensono Holdings, LLC for consideration of $ 76.24 million. on the sale, Wipro has no interest in Ensono Holdings, LLC. “

It was in March 2018 that Wipro and Ensono, a leading hybrid IT service provider, signed a long-term partnership agreement to jointly address the hybrid IT needs of Wipro’s new and existing business customers. As part of the deal, Wipro made a strategic investment of $ 55 million for a 10.2% stake in Ensono’s combined entity, Ensono Holdings, LLC.

signed a definitive agreement to sell Wipro’s hosted data center services business to Ensono, a leading hybrid IT service provider for $ 405 million. Wipro will unlock value by moving eight data centers and more than 900 employees from its hosted data center services business to Ensono. Acquisition significantly expands Ensono’s geographic footprint and global service capabilities, bringing the company closer to achieving its vision of helping customers harness the power of hybrid computing to transform their businesses globally .

Wipro and Ensono have also signed a long-term partnership agreement to jointly meet the hybrid computing needs of new and existing Wipro corporate customers. As part of the agreement, Wipro will make a strategic investment of $ 55 million in the combined entity of Ensono.

Wipro has been providing comprehensive IT management solutions to large and mid-sized businesses for over 25 years and operates world-class data centers around the world. The company has expertise in multiple computing environments and platforms, including mainframes, iSeries, Unix, Windows, and Linux servers, and offers a range of delivery models ranging from custom solutions delivered in Wipro data centers to remote management and cloud computing.

The hosted data center services business is one of three companies that became part of Wipro when it acquired Infocrossing Inc in 2007. The other two businesses – Medicare & Medicaid services in the area of health insurance and ERP implementation services – have been integrated with other Wipro’s and are not part of this divestment.

“As we adopt our strategy of focusing on new digital spending areas, our strategic investment and partnership with Ensono will allow us to remain committed to meeting the hosted data center service needs of our customers. This partnership will enhance the global data center footprint and expand the pool of available talent, allowing us economies of scale and enabling us to deliver end-to-end capabilities in the infrastructure space, better than ever before, ”said Kiran Desai, Senior Vice President, President, Global Infrastructure Services, Wipro Limited.

Ensono provides hybrid IT services, from cloud to mainframe, that enable customers to digitally transform their businesses. With this acquisition, Ensono doubles in size, diversifies its customer base and increases its annualized revenues to exceed $ 550 million. Beyond a growing geographic footprint and a presence in data centers, Ensono will manage more than 260,000 MIPS and more than 30,000 hosted servers. Whether customers are harnessing the power of the cloud or modernizing legacy technologies, Ensono helps customers manage complex IT requirements, globally and across industries.

To subscribe to Mint newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!

Source link

About Aldrich Stanley

Aldrich Stanley

Check Also

3 steps to help your business survive the changing market

Like many entrepreneurial businesses, Farmer’s Fridge had to significantly adjust our operations during the pandemic. …