Wipro grabs a $700 million deal with Metro

Shares of Wipro rallied nearly 6 per cent on Wednesday after the IT major announced the signing of a $700-million deal to provide IT services to German food wholesaler Metro AG for five years. This deal can be extended for another 4 years to improve minimum revenue commitment to $1 billion. At the core of partnership, stays the joint information office and innovation council to guide businesses. Metro is an international wholesale company dealing with food and non-food assortments.