Corporate

Wipro inks $700 mn takeover deal with Metro AG

Wipro

IT major Wipro has signed a $700 million-digital and IT partnership deal with Metro AG that will see over 1,300 staff of the German wholesaler move.

“The estimated deal value for the duration of the first 5 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.

“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,” it said.

Also Read: Wipro to launch 5G edge services solutions

Wipro 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.

“Wipro’s transformation programme will encompass cloud, data centre services, workplace and network services, along with application development and operations to provide an integrated, flexible and robust digital infrastructure to help drive Metro’s transformation agenda,” the statement said.

Timo Salzsieder, CIO of Metro AG, said the company is at a stage where it wants to focus on the activities that are going to give it the strongest possible competitive advantage and to do that, it needs to be confident in the digital infrastructure that underpins its growth.

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