ETtech has sold its entire stake in IT services provider Ensono for $76.24 million as part of the Illinois-based company’s acquisition by private equity giant KKR which was announced in April.
In March 2018, Wipro had made a strategic investment of $55 million for 10.2% stake in Ensono Holdings, LLC, the parent company of Ensono, after the company acquired its hosted data centre business for $405 million.
“As part of 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 said in a stock market filing late on Sunday.
Wipro and Ensono had also entered into a long term partnership 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. Reuters had reported, 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.
In March 2018, Wipro had made a strategic investment of $55 million for 10.2% stake in Ensono Holdings, LLC, the parent company of Ensono, after the company acquired its hosted data centre business for $405 million.
“As part of 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 said in a stock market filing late on Sunday.
Wipro and Ensono had also entered into a long term partnership 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. Reuters had reported, 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.