Wipro sells stake in Denim Group for $22.42 mn, acquires stake in Squadcast

Wipro, in 2018, had acquired 33.33 per cent stake in Denim Group, an independent application security firm, for $8.83 mn

IT major Wipro announced that it has sold its stake in Denim Group, a provider of application security firm for $22.42 million. 

Wipro in 2018 had acquired 33.33 per cent stake in Denim Group, Ltd. and Denim Group Management, LLC (Denim Group), an independent application security firm, for a consideration of $ 8.83 million. 

“As part of recently announced acquisition of Denim Group by Coalfire, Wipro has sold its entire stake in Denim Group for a consideration of $ 22.42 million.  Consequent to the sale, Wipro does not hold any stake in Denim Group,” said the company in a BSE filing.

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