Biznextindia : Wipro, India’s leading software exporter, has announced that it has exited from IntSights Cyber Intelligence Ltd (IntSights), a cyberthreat intelligence service provider. The company has sold its minority stake in IntSights for a consideration of USD 19.17 million.
“During the period 2016-19, Wipro acquired minority stake of less than 20% in IntSights Cyber Intelligence Ltd (IntSights), a cyberthreat intelligence service provider, for an aggregate investment of US$ 4.21 Mn. This investment was made through Wipro Ventures, the strategicinvestment arm of Wipro. As part of recently announced acquisition of IntSights by Rapid7, Inc., Wipro has sold its entire stake in IntSights for a consideration of US$ 19.17 Mn. Consequent to the sale, Wipro does not hold any stake in IntSights” said Wipro in a regulatory filing.
Rapid7, Inc. (NASDAQ: RPD), an US-based provider of security analytics and automation, on 19th July announced the acquisition of IntSights. Under the terms of the agreement, Rapid7 will pay approximately $335 million in cash and stock to acquire IntSights, subject to adjustments.