MarketBite

Wipro to sell data centres and other computer hardware assets of Infocrossing

Posted on: November 11, 2011


  • India’s third biggest software exporter Wipro is evaluating options to sell data centres and other computer hardware assets of its US subsidiary Infocrossing to unlock value from what the company now calls ‘non-core’ business, people familiar with the discussions said last week.

 

  • At least five persons, including officials and bankers, said Wipro has already received initial offers from several medium to large US telcos, and the company is deliberating to carve out five data centres owned by Infocrossing for a potential sale estimated to be worth anywhere between $300 million and $400 million.

 

  • This part of Infocrossing (data centres) is not a game changer we want over next three-five years,” the first person said on conditions of anonymity because these discussions are at an early stage. The person also added that Citigroup is currently holding discussions with potential buyers.

 

  • Interests received so far are unsolicited. As of now there is more than one potential bidder,” he added. When contacted, a Wipro spokesman declined to offer any comments as the company is in a silent period ahead of its earnings announcement next month. In August 2007, Wipro had acquired Infocrossing for $600 million, with then revenues of around $200 million.

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2 Responses to "Wipro to sell data centres and other computer hardware assets of Infocrossing"

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