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Wipro, Metro AG sign Rs 5,145 cr digital and IT deal

ANI
·1-min read
The take over is expected to close by April 30 next year.
The take over is expected to close by April 30 next year.

Bengaluru (Karnataka) [India], December 23 (ANI): IT software major Wipro has announced a significant strategic digital and IT partnership deal with Metro AG, the leading German wholesale company in food service distribution industry.

As a part of this transaction, Wipro will take over the IT units of Metro AG -- Metro-Nom Gmbh in Germany and Metro Systems Romania SRL.

Through this partnership, more than 1,300 employees across Germany, Romania and India will transfer to Wipro, providing 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.

The estimated deal value for the duration of first five years is about 700 million dollars (about Rs 5,145 crore). With the intention to extend up to four additional years, it can be a potential spend of up to one billion dollars (Rs 7,350 crore).

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

The take over is subject to customary closing conditions and regulatory approvals and is expected to close by April 30 next year. The transaction was assisted by the global strategy consulting firm EY-Parthenon, Wipro said in a statement.

Wipro also plans to launch a digital innovation hub in Dusseldorf to support Metro and other clients in the region. It will serve as the company's flagship centre in Europe and enable organisations to cross skill and upskill, besides supporting talent development in local communities. (ANI)