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Larsen & Toubro lnfotech to acquire Germany's Nielsen+Partner for EUR 28 mn

Press Trust of India  |  New Delhi 

IT firm & Toubro lnfotech Thursday announced acquisition of Germany's for EUR 28 million (approx Rs 224.15 crore).

"The company, through its wholly-owned subsidiary, & Toubro lnfotech GmbH, Germany, has signed a definitive agreement to acquire Unternehmensberater GmbH headquartered in Hamburg, Germany, along with its identified subsidiaries in Luxembourg, Switzerland, Thailand, and and branch office in Belgium," & Toubro lnfotech said in a regulatory filing.

Larsen & Toubro lnfotech said is an independent and this acquisition is synergistic to acquisition that the company announced in 2017.

The enterprise value payable for the acquisition of 100 per cent share capital of Nielsen+Partner is EUR 28 million on a cash-free, debt-free basis, which includes upfront consideration and a performance based earn-out, Larsen & Toubro lnfotech said.

The acquisition is subject to customary closing conditions which are expected to get completed within six weeks, the company said.

Shares of Larsen & Toubro lnfotech were trading 0.61 per cent lower at Rs 1,772.05 apiece on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 14 2019. 12:55 IST