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Wipro takes over Metro-NOM GMBH, Metro Systems Romania for 52.04 mn euros

IT services major Wipro on Thursday said it has completed the takeover of Metro-NOM GMBH and Metro Systems Romania SRL for 52.04 million euros (about Rs 448.6 crore)

Topics
Wipro | Metro AG | IT companies

Press Trust of India  |  New Delhi 

Wipro

IT services major on Thursday said it has completed the takeover of Metro-NOM GMBH and Metro Systems Romania SRL for 52.04 million euros (about Rs 448.6 crore) as part of its digital and IT partnership deal with

In December last year, had announced signing a USD 700-million digital and IT partnership deal with that also entailed over 1,300 staff of the German wholesaler moving to the Bengaluru-based IT firm.

As a part of the transaction, was to also acquire the IT units of - Metro-NOM GMBH in Germany and Metro Systems Romania SRL.

"...Wipro has completed the aforesaid takeover of METRO-NOM GMBH and METRO Systems Romania S.R.L. for a purchase consideration of 52.04 million euros based on the financials at the time of completion of the transaction," Wipro said in a regulatory filing on Thursday.

In December, Wipro had said it will deliver a complete technology, engineering and solutions transformation programme for Metro as the latter positions itself as a wholesale 360-degree provider in the hotel, restaurant and catering food industry.

The estimated deal value for the duration of the first five years is approximately USD 700 million. With the intention to extend up to 4 additional years, it can be a potential spend of up to USD 1 billion, Wipro had said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, April 01 2021. 20:27 IST
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