Wipro to sell EcoEnergy business to Chubb Alba for $70 million

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In a bid to sharpen focus on its core IT business, Wipro on Wednesday said it will sell its EcoEnergy division to Chubb Alba Control Systems for $70 million. Chubb Alba is an indirect subsidiary of United Technologies Corporation (UTC), which is a major US multinational with sales of $56 billion and has 2 lakh employees. “Wipro has been sharpening focus on its core IT business. Since business carried out by EcoEnergy division is not core and strategic to overall IT business of the company, it has been decided to divest the business,” Wipro said in a filing to BSE.

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