<article>Indian IT services company <a href="https://www.dealstreetasia.com/?s=Wipro" target="_blank" rel="noopener">Wipro</a> on Wednesday said it is selling two of its businesses &#8211; <a href="https://www.dealstreetasia.com/?s=Workday" target="_blank" rel="noopener">Workday</a> and <a href="https://www.dealstreetasia.com/?s=Cornerstone OnDemand" target="_blank" rel="noopener">Cornerstone OnDemand</a> &#8211; to <a href="https://www.dealstreetasia.com/?s=Alight" target="_blank" rel="noopener">Alight </a>for cash consideration of up to $110 million.</article>

Indian IT services company <a href="https://www.dealstreetasia.com/?s=Wipro" target="_blank" rel="noopener">Wipro</a> on Wednesday said it is selling two of its businesses &#8211; <a href="https://www.dealstreetasia.com/?s=Workday" target="_blank" rel="noopener">Workday</a> and <a href="https://www.dealstreetasia.com/?s=Cornerstone OnDemand" target="_blank" rel="noopener">Cornerstone OnDemand</a> &#8211; to <a href="https://www.dealstreetasia.com/?s=Alight" target="_blank" rel="noopener">Alight </a>for cash consideration of up to $110 million.
Wipro had acquired the two businesses as part of its buyout of US cloud services company Appirio in 2016 for $500 million. Workday and Cornerstone OnDemand have multiple customers across the United States, Europe, Middle East and Africa.
The sale will result in about 350 employees in Wipro&#8217;s Workday and Cornerstone OnDemand teams moving to Alight.
Following the closing of the 10-year agreement, previously announced in September 2018, Alight and Wipro continue to explore additional strategic opportunities and possible alignment of portfolios based on their respective strengths, the company said, in a statement.
Wipro said, it will continue with its focus and investment plans for the cloud applications and platforms space including growing and expanding its Salesforce business under the Appirio brand. It will also continue to support Workday&#8217;s suite of solutions for application management, testing and integration services for its existing client base.
&#8220;This agreement will enable Wipro to sharpen its focus on key offerings where it has a leadership position in the market. We will continue to make significant investments to grow our cloud applications and platforms business,&#8221; said Abidali Z. Neemuchwala, CEO and Executive Director, Wipro Ltd.
The transaction will expand Alight&#8217;s capabilities and resources in HCM and financial solutions with Wipro&#8217;s advisory, implementation and integration offerings, strengthening its position as a large implementation partner in the Workday and Cornerstone OnDemand ecosystems, the statement added.
Wipro said Alight will pay $100 million at closing and the remaining at the end of 12 months based on achievement of performance targets.
The transaction is subject to receipt of regulatory approvals and customary closing conditions and is expected to close during the quarter ending March 31, 2019.
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Indian IT services company Wipro said it is selling two of its businesses – Workday and Cornerstone OnDemand – to Alight for cash consideration of up to $110 million.

India: Wipro to sell Workday, Cornerstone OnDemand to Alight for $110m

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India: Wipro to sell Workday, Cornerstone OnDemand to Alight for $110m

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