Wipro in its filing to the exchanges informed that the divestment of Wipro's Workday & Cornerstone On Demand Business in various jurisdictions, except Portugal, France, and Sweden, has been completed effective March 31, 2019.
The company received aggregate consideration of $95.27mn out of $100mn towards the same. "The impact of this divestment is expected to reflect in the financials of the company for the quarter and year ended March 31, 2019," the company said in a press note after markets hours to the exchanges on Tuesday.
Further, the divestment of Wipro's Workday & Cornerstone On Demand Business in Portugal, France, and Sweden is likely to be completed during the quarter ending June 30, 2019, subject to completion of requisite regulatory formalities and customary closing conditions.
"Upon completion of such divestment, the company will receive the remaining consideration of $4.73mn from Alight Solutions LLC and its group companies," the company said a press note.
The company received aggregate consideration of $95.27mn out of $100mn towards the same. "The impact of this divestment is expected to reflect in the financials of the company for the quarter and year ended March 31, 2019," the company said in a press note after markets hours to the exchanges on Tuesday.
Further, the divestment of Wipro's Workday & Cornerstone On Demand Business in Portugal, France, and Sweden is likely to be completed during the quarter ending June 30, 2019, subject to completion of requisite regulatory formalities and customary closing conditions.
"Upon completion of such divestment, the company will receive the remaining consideration of $4.73mn from Alight Solutions LLC and its group companies," the company said a press note.
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