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Wipro completes acquisition of Metro-NOM GMBH & Metro Systems Romania SRL for €52.04 million
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Wednesday, 07 April, 2021, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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IT services major Wipro said it has completed the takeover of Metro-NOM GMBH and Metro Systems Romania SRL for Euros 52.04 million which is around Rs 448.6 crore as part of its digital and IT partnership deal with Metro AG.
The estimated deal value for the duration of the first five years is approximately $700 million. With the intention to extend up to 4 additional years, it can be a potential spend of up to $1 billion. In December, the company 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.
In December 2020, the company had announced signing a $700-million digital and IT partnership deal with Metro AG that also entailed over 1,300 staff of the German wholesaler moving to the Bengaluru-based IT firm. As a part of the transaction, Wipro was to also acquire the IT units of Metro AG - Metro-NOM GMBH in Germany and Metro Systems Romania SRL.
“The company completed the aforesaid takeover of Metro-NOM GMBH and Metro Systems Romania S.R.L., for a purchase consideration of €52.04 million based on the financials at the time of completion of the transaction,” Wipro said in a regulatory filing.
“The estimated deal value for the duration of the first five years is approximately $700 million. With the intention to extend up to 4 additional years, it can be a potential spend of up to $1 billion,” Wipro had said.
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