IT firm Larsen & Toubro Infotech Thursday announced acquisition of Germany’s Nielsen+Partner for EUR 28 million (approx Rs 224.15 crore).
“The company, through its wholly-owned subsidiary, Larsen & Toubro Infotech GmbH, Germany, has signed a definitive agreement to acquire Nielsen+Partner Unternehmensberater GmbH headquartered in Hamburg, Germany, along with its identified subsidiaries in Luxembourg, Switzerland, Thailand, Singapore and Australia and branch office in Belgium,” Larsen & Toubro Infotech said in a regulatory filing.
Larsen & Toubro Infotech said Nielsen+Partner is an independent Temenos WealthSuite specialist and this acquisition is synergistic to Syncordis acquisition that the company announced in 2017.
The enterprise value payable for the acquisition of 100 per cent share capital of Nielsen+Partner is EUR 28 million on a cash-free, debt-free basis, which includes upfront consideration and performance based earn-out, Larsen & Toubro Infotech said.
The acquisition is subject to customary closing conditions which are expected to get completed within six weeks, the company said.
