The Hindu Business Line : Wipro buys European co Enabler for $52 m

Retail drive
The deal will help Wipro expand its footprint in Europe
It is expected to close in a month's time and will be profit accretive immediately

Bangalore June 1

Wipro Technologies has acquired European IT solutions provider for the retail sector Enabler in an all cash deal exceeding $52 million ( 41 million). The deal includes upfront cash payment covering actual cash and cash equivalents on the balance sheet and also earn-outs on achieving agreed financial targets over a two-year period.

The Portugal-based Enabler is a preferred integrator of Oracle Retail (Retek) solutions and provides implementation and consulting services to 15 global retailers including Tesco, Espirit, Nisa-Today's, Sonae, Despar, Ava and Debenhams.

Expanding footprint

Announcing the deal, Mr Sudip Banerjee, President, Enterprise Solutions, Wipro Technologies, said the buy-out would bring about 310 people including skills in the retail package implementation and consulting to the Wipro fold. "This will expand our footprint in Europe," he said, adding Wipro's retail sector focus has been widely on the US market.

2nd European deal

Enabler is the second acquisition by Wipro in Europe in recent months.

More Stories on : Mergers & Acquisitions | Wipro Ltd

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