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Wipro sells energy biz for $70 mn to India unit of UTC

EcoEnergy, provides energy management services to industries in North America, Europe, and Asia

Ayan Pramanik 

Wipro sells energy biz for $70 mn to India unit of UTC

has sold off energy services business to the Indian arm of for an estimated Rs 465 crore as part of its strategy to exit noncore businesses.

said it was a strategic decision to divest from the energy business as the software major would focus on core IT services business. Both the companies signed a pact on Wednesday. In last financial year, contributed nearly Rs 67.6 crore to the company’s overall revenue and its net worth was Rs 15.6 crore. The Bengaluru-based energy division of Wipro, EcoEnergy, provides energy management services to industries in North America, Europe, and Asia. 

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Wipro sells energy biz for $70 mn to India unit of UTC

EcoEnergy, provides energy management services to industries in North America, Europe, and Asia

EcoEnergy, provides energy management services to industries in North America, Europe, and Asia
has sold off energy services business to the Indian arm of for an estimated Rs 465 crore as part of its strategy to exit noncore businesses.

said it was a strategic decision to divest from the energy business as the software major would focus on core IT services business. Both the companies signed a pact on Wednesday. In last financial year, contributed nearly Rs 67.6 crore to the company’s overall revenue and its net worth was Rs 15.6 crore. The Bengaluru-based energy division of Wipro, EcoEnergy, provides energy management services to industries in North America, Europe, and Asia. 

image
Business Standard
177 22

Wipro sells energy biz for $70 mn to India unit of UTC

EcoEnergy, provides energy management services to industries in North America, Europe, and Asia

has sold off energy services business to the Indian arm of for an estimated Rs 465 crore as part of its strategy to exit noncore businesses.

said it was a strategic decision to divest from the energy business as the software major would focus on core IT services business. Both the companies signed a pact on Wednesday. In last financial year, contributed nearly Rs 67.6 crore to the company’s overall revenue and its net worth was Rs 15.6 crore. The Bengaluru-based energy division of Wipro, EcoEnergy, provides energy management services to industries in North America, Europe, and Asia. 

image
Business Standard
177 22