India: Wipro to sell EcoEnergy division to Chubb Alba for $70m

India: Wipro to sell EcoEnergy division to Chubb Alba for $70m

Technology firm Wipro Ltd on Wednesday announced that it is selling its EcoEnergy division to Delhi-based Chubb Alba Control Systems for $70 million. EcoEnergy, the renewable energy solutions arm of Wipro, provides a range of sustainable and green energy solutions such as customised clean energy. The division contributed Rs 67.64 crore in revenues in FY16, and is said to have a networth of Rs 15.6 crore. “Wipro has been sharpening focus on its core IT business. Since business carried out by EcoEnergy division is not core and strategic to overall IT business of the company, it has been decide Read More…

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