Wipro has inked an agreement to sell its EcoEnergy division to the US-based conglomerate UTC for $70 million amounting Rs 485 crore. The sale is expected to be closed in early 2017, subject to receipt of requisite regulatory approvals and customary closing conditions.
Wipro has been sharpening focus on its core IT business and since business carried out by the EcoEnergy division is not core and strategic to overall IT business of the company, it has been decided to divest the business.
Wipro is engaged in providing information technology solutions. It offers solutions for systems integration, information systems outsourcing, package implementation, system integration, network integration, software solutions and information technology services, software application development and maintenance and research and development services to corporations globally.
