INDIA New England News
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Bengaluru– Global software major Wipro on Tuesday announced that its is taking over the IT operations of German food services firm Metro AG in a $700 million (Rs 5,171 crore) deal.
“As a part of the transaction, Wipro will take over the IT units of Metro AG – Metro-Nom – in Germany and Metro Systems in Romania,” said the city-based IT firm in a statement.
The deal value for the first five years is worth $700 million, with a potential to go up to $1 billion if extended by another four years.
The takeover is expected to close by April 30, 2021. The transaction was assisted by the global strategy consulting firm EY-Parthenon.