Wipro inks $117 mn deal with Alight Solutions, to take over India captive unit
IT firm Wipro today said it has partnered US-based Alight Solutions to take over the latter's captive operations in India - Alight HR Services India - for a consideration of USD 117 million.PTI | Updated: 20-07-2018 17:22 IST | Created: 20-07-2018 16:45 IST
The cash transaction is expected to be completed during the September quarter, subject to receipt of regulatory approvals and customary closing conditions, Wipro said in a BSE filing.
"This strategic partnership will enable Alight to accelerate investment in consumer-facing technologies and services across its health, wealth and cloud businesses by leveraging Wipro's industry-leading strengths in automation, machine learning and data analytics," it added.
Wipro's focus will be to modernise Alight's core technology assets and further automate its operations to enhance the user experience of Alight's end customers, it said.
It has about 9,000 employees and registered revenue of Rs 1,132 crore in 2017-18. It has centres in Gurugram, Noida, Mumbai and Chennai.
Alight Solutions provides administration and cloud-based HR and financial solutions to 1,400 clients serving 19 million employees.
"Our partnership with Wipro enables us to leverage Wipro's unmatched innovation and leadership in automation and digital technologies, while increasing our investments to harness market trends and deliver even better solutions for our clients as their needs and those of their people evolve," said Chris Michalak, CEO of Alight Solutions.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)