Wipro completes sale of EcoEnergy division | business-news | Hindustan Times
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Wipro completes sale of EcoEnergy division

business Updated: Mar 02, 2017 13:50 IST
PTI
Wipro

Wipro today said it has completed the $70 million sale of its EcoEnergy division.(HT Archive)

Wipro, India’s third largest software exporter, today said it has completed the $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 $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.