Latest News | Wipro Gallagher Sells Its Stake in Wipro Opus Risk Solutions

New Delhi, Dec 22 (PTI) 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.

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"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.

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"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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)