According to an official release issued to the BSE on Thursday, the consideration includes upfront cash payment of approximately euro 41 million on closure of the transaction as well as earn-outs on achieving agreed financial targets over a two-year period.
Created in 1997, through the planned separation of the IS/IT department of Portugal's leading retailer - Modelo Continent, Enabler is one of the leading specialists in consulting and implementation of integrated solutions and effective support of retail systems and is a preferred integrator of Oracle Retail (Retek) solutions and provider of retail consulting services for global retailers.
Sudip Banerjee, president (enterprise solutions) of Wipro Technologies, said: "Retail industry is one of the largest and fastest-growing sectors in the enterprise solutions market for Wipro.
Enabler's proven and reference-able track record in retail domain consulting and package implementation skills helps us strengthen our position as a preferred solutions provider to large retailers globally.
"The entire transaction is expected to be closed during the next month. The closing of the transaction is subject to customary closing conditions and regulatory approvals. Langham Capital was the financial advisor to Wipro on this transaction.
