L&T Infotech to acquire Germany’s Nielsen+partner

NEW DELHI: Information technology firm Larsen & Toubro lnfotech (LTI) on Thursday announced the acquisition of Germany’s Nielsen+partner for EUR 28 million (about ₹224.15 crore). “The company, through its whollyowned subsidiary, Larsen & Toubro lnfotech 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,” LTI said in a regulatory filing. The enterprise value payable for the acquisition of 100% share capital of Nielsen+partner is EUR 28 million on a cash-free, debt-free basis, which includes upfront consideration and a performance based earnout, LTI said. Shares of LTI were trading 0.61% lower at ₹1,772.05 apiece on BSE.