Wipro Sells Entire Shareholding In IntSights For USD 19.17 MN
- ByStartupStory | July 20, 2021
Wipro, an Indian multinational corporation that provides information technology, consulting and business process services, has sold its entire stake in IntSights, a cyber threat intelligence service provider, for USD 19.17 million. On Monday, security analytics and automation firm Rapid7, Inc had announced the acquisition of IntSights Cyber Intelligence Ltd – which provides contextualised external threat intelligence and proactive threat remediation – for USD 335 million in cash and stock.
During the period 2016-19, Wipro acquired a minority stake of less than 20 per cent in IntSights Cyber Intelligence Ltd (IntSights), for an aggregate investment of USD 4.21 million, Wipro said in a regulatory filing on Tuesday. The investment was made through Wipro Ventures, the strategic investment arm of Wipro. ‘As part of the recently announced acquisition of IntSights by Rapid7, Inc, Wipro has sold its entire stake in IntSights for a consideration of USD 19.17 million. Consequent to the sale, Wipro does not hold any stake in IntSights,’ the filing added. IntSights has offices in Boston, Tel Aviv, Amsterdam, and Tokyo.
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