Wipro Gallagher Solutions, a wholly-owned subsidiary of Wipro Ltd, has sold its shareholding in Wipro Opus Risk Solutions, according to a filing by the company.
With this transaction, Wipro Gallagher has divested only the non-core mortgage due diligence business, while retaining the core mortgage business with itself through other subsidiaries.
“Wipro Gallagher Solutions Inc., a wholly owned subsidiary of Wipro Limited, has sold all of its membership interests (shareholding) in Wipro Opus Risk Solutions LLC yesterday (that is December 21, 2022),” Wipro said.
Loaning Hub Inc. (LH), US through its affiliate Opus Investors Fund 1, LLC, USA, is the buyer.
“As part of the transaction, Wipro will also become an exclusive outsourcing partner to the buyer,” the filing added.
The deal entails an upfront consideration of USD 0.64 million, subject to adjustments. PTI