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.