Wipro to sell Workday, Cornerstone On Demand business to Alight for up to USD 110 mn

IT services major Wipro Wednesday said it would sell its Workday and Cornerstone On Demand business to Illinois-based Alight for cash consideration of up to USD 110 million.

Following the closing of its 10-year agreement that was announced in September last year, Alight and Wipro continue to explore additional strategic opportunities and possible alignment of portfolios based on their respective strengths, Wipro said in a regulatory filing.

“The divestiture agreement will result in approximately 350 employees in Wipro’s Workday and Cornerstone On Demand teams moving to Alight,” it added.

The transaction consists of business and employees in the US, the UK, Ireland, Portugal, India and certain other countries. Standalone revenue of the business was USD 49.7 million for 2017-18 (0.6 per cent of Wipro’s consolidated revenue for the said fiscal).