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  Business   Companies  02 Mar 2017  Wipro completes sale of EcoEnergy division

Wipro completes sale of EcoEnergy division

PTI
Published : Mar 2, 2017, 1:55 pm IST
Updated : Mar 2, 2017, 2:14 pm IST

The company completed the sale of division for USD 70 million to Chubb Alba Control System.

Wipro
 Wipro

New Delhi: Wipro, India's third largest software exporter, today said it has completed the USD 70 million sale of its EcoEnergy division. In November last year, the Bengaluru-based company had said it will sell its EcoEnergy division to Chubb Alba Control Systems for USD 70 million in order to sharpen focus on core IT business.

"Wipro has completed the sale of its EcoEnergy division on March 1, 2017. The impact of sale of EcoEnergy division is expected to reflect in the financials of Wipro for the quarter and year ending March 31, 2017," it said in a BSE filing.

 

Chubb Alba is an indirect subsidiary of United Technologies Corporation (UTC), which is a major US multinational with sales of $56 billion and has 2 lakh employees.

Tags: wipro, eco energy division, chubb alba control systems