Asia Bizz: SAIC Inc. has made an agreement to sell their U.S-based gas and oil I.T service business to Wipro Ltd. SAIC is taking this step so that the company can focus its growth in the energy sector. The energy sectors that SAIC will focus are mainly renewable energy and smart grid.
No information on the amount has been disclosed by either party. SAIC will have their subsidiaries also sold to Wipro; located in countries like India, France, United Kingdom and the Middle East. The total amount of employees in these areas are close to 1,450 people.
Some of the SAIC subsidiaries involved in the sale are located in the United Kingdom, France, India and the Middle East. In all, the operations employ about 1,450 people, the company said.
The main reason that SAIC will be selling these subsidiaries is because they want to focus all their energies on renewable as well as smart grid, and for the company to achieve that they needed to sell these subsidiaries.
