1 min read.Updated: 01 Apr 2021, 06:39 PM ISTStaff Writer( with inputs from Reuters )
Software services firm major Wipro Ltd on Friday confirmed that it has completed strategic digital and IT partnership deal with German wholesaler METRO AG
Software services firm major Wipro Ltd on Friday confirmed that it has completed strategic digital and IT partnership deal with German wholesaler METRO AG. The company has confirmed that it acquired Metro-Nom GMBH and Metro System Romania SRL for EURO 52.04 million.
The company in its regulatory filing said, ".... Wipro has signed a significant strategic digital and IT partnership deal with METRO AG and will take over the IT units of METRO AG- METRO-NOM GMBH in Germany and METRO Systems Romania S.R.L., as part of the transaction."
"In continuation to the aforesaid letter, this is to inform that Wipro has completed the aforesaid take over of METRO-NOM GMBH and METRO Systems Romania S.R.L. for a purchase consideration of EUR 52.04 million based on the financials at the time of completion of the transaction. This is for your information and record."
Earlier in December, the Bengaluru-based firm had said, "The estimated deal value for the duration of the first 5 years is approximately $700 million. With the intention to extend up to four additional years, it can be a potential spend of up to $1 billion."
As part of the deal, more than 1,300 employees across the IT units of the wholesaler from Germany, Romania and India will transfer to Wipro. The IT major said that it will provide them with new opportunities to advance their careers, access innovation, work with leading digital technologies and adopt new ways of working that enable agility, speed and scale in engineering.