your password has been reset successfully, Please login again.

Alight to sell India operations to Wipro for $117 mn

Alight Solutions specialises in technology-enabled health, wealth, HR and finance solutions.
BY BEx Bureau
BusinessEx
Jul 23, 2018

Software services exporter Wipro Ltd has agreed to acquire Alight HR Services India Pvt. Ltd, the local arm of US-based Alight Solutions, for $117 million (Rs 800 crore) in cash.

Wipro said in a stock-exchange filing that it expects to complete the transaction by September after receiving regulatory approvals.

Alight Solutions specialises in technology-enabled health, wealth, HR and finance solutions.

Our focus will be to modernise Alights core technology assets and further automate its operations to enhance the user experience of Alights end customers, said Wipro chief executive Abidali Z. Neemuchwala.

According to the statement, the strategic partnership will enable Alight to accelerate investment in consumer-facing technologies and services across its health, wealth and cloud businesses by leveraging Wipros strengths in automation, machine learning and data analytics.

Alight HR Services, formerly known as Aon HR Services India Pvt. Ltd, was incorporated on 2016 and is engaged in the business of IT and IT-enabled services (ITES). Its expertise includes human resource outsourcing, information technology, shared services and finance process outsourcing services.

The company has five offices in India spread across four locations with around 9,000 employees. It reported revenue of Rs 531 crore in the financial year 2016-17. Alights unaudited results for 2017-18 indicate that it has more than doubled revenue to Rs 1,132 crore.

FCM Consulting facilitated the transaction between the two parties.

Please add your Comment
SIMILAR News
May 22, 2019
Spinny will be deploying the fresh capital to widen its footprint in Bengaluru. ...More
By Jaspreet Kaur
May 22, 2019
Edelweiss Insurance Brokers, a subsidiary of Edelweiss Financial Services, will sell a small portion ...More
By Jaspreet Kaur
May 21, 2019
According to the strategic partnership, Padukone will possess equity in the company ...More
By Jaspreet Kaur
May 21, 2019
Livspace will be utilizing funds in various domains such as in creating novel home interior solution ...More
By Jaspreet Kaur
May 20, 2019
Coatue Management, the American-based hedge fund, is planning to lead $120 million funding round in ...More
By Jaspreet Kaur
May 20, 2019
The Indian infra firm, IL&FS (Infrastructure Leasing and Financial Services) proclaimed that Japanes ...More
By Jaspreet Kaur
May 18, 2019
 Nippon Life will disburse nearly INR 4,484 crore to obtain a major stake of Reliance Capital in the ...More
By Jaspreet Kaur
May 18, 2019
Brookfield Asset Management’s CEO wishes Howard Marks, Co-founder of Oaktree Capital, to continue do ...More
By Jaspreet Kaur
May 15, 2019
Innoven Capital proclaimed that the company obtained an extra $200 million capital investment from s ...More
By Jaspreet Kaur
May 15, 2019
National Mineral Development Corporation Ltd (NMDC), government-owned mineral producer plans to inve ...More
By Jaspreet Kaur
May 14, 2019
Global PayEx proclaimed that JP Morgan has done strategic investment in the company so the company c ...More
By Jaspreet Kaur
May 14, 2019
With the investment in Simi Reality Motion, ZF will increase in proficiency beyond the current occup ...More
By Jaspreet Kaur