Wipro updates on sale of preferred stocks of Harte Hanks Inc

Wipro ltd
article continues after this advertisement

In January 2018, Wipro and Harte Hanks Inc, a leading marketing services firm specialising in multi-channel marketing solutions, had signed a long-term partnership agreement to offer end-to-end marketing technology services to customers. As part of this agreement, Wipro LLC (a wholly owned subsidiary of Wipro Limited) had made a strategic investment of US$ 9,926,000 towards 9,926 convertible preferred stocks of Harte Hanks Inc.

Wipro LLC has signed a definitive agreement to sell its Series A Convertible Preferred Shares to Harte Hanks Inc by way of repurchase of shares for a total purchase consideration of US$ 9,926,000 in cash and 100,000 shares of Harte Hanks Inc, approximately 1.42% of the Company’s common stock. The transaction is subject to certain closing conditions and is expected to close within 90 days from the date of signing the agreement.