Wipro inks $700-mn IT takeover deal with Metro AG

Wipro said on Tuesday it will take over the information technology units of Metro AG — Metro-NOM GMBH in Germany and Metro Systems Romania SRL — under which over 1,300 employees across Germany, Romania and India will transfer to Wipro.

Metro is a leading international wholesale company, with food and non-food assortments, specialising in serving needs of hotels, restaurants and caterers as well as independent traders.

The estimated deal value for the duration of the first five years is $700 million. With the intention to extend up to four additional years, it can be a potential spend of up to $1 billion, Wipro said.