Wipro Ltd. (WIT) on Wednesday said it agreed to sell its Workday and Cornerstone OnDemand business to Alight Solutions for up to $110 million in cash.

The India-based information-technology, consulting and outsourcing company said the purchase price includes $100 million at closing and $10 million in deferred consideration payable a year later based on the achievement of performance targets.

Wipro said about 350 Workday and Cornerstone OnDemand employees will be moving to Alight. A provider of health, wealth and human-resources solutions that earlier this month filed for an initial public offering.

Wipro, which last year signed a 10-year agreement to provide solutions and service to Alight, said the companies will continue to explore additional strategic opportunities and possible alignment of their portfolios.

The post Wipro To Sell Workday, Cornerstone To Alight appeared first on Bolte Raho.