Wipro to acquire SAP consulting firm Rizing for $540m
Wipro has agreed to acquire Rizing Intermediate Holdings, a US-based SAP consulting firm, for $540 million in a move to considerably grow its breadth of capabilities in driving the transformation of businesses into intelligent enterprises.
Headquartered in Stamford, Connecticut, Rizing has over 1,300 employees in 16 countries in North America, Asia, Europe, and Australia. It was owned previously by private equity firm One Equity Partners.
Rizing has industry expertise and consulting capabilities in consumer industries, enterprise asset management, and human experience management. Its net revenue in 2021 was $193.8 million.
Commenting on Wipro acquisition of Rizing, Mike Maiolo — CEO of Rizing said: “This is the next phase of growth for Rizing. With Wipro’s backing, we will be able to enhance the value we deliver to our current clients and bring our differentiated offering to a broader universe of businesses.
“Combining the two firms will allow us to scale our services and expand our footprint in the market. We are thrilled to join a company that shares our values and vision, enabling us to grow in new strategic areas.”
Wipro acquisition of Rizing. Photo courtesy of Rameshng/Wikipedia.org.
After the closing of the deal, Rizing will become Rizing, a Wipro company, under the leadership of Mike Maiolo.
Wipro said that Rizing will become a highly important extension of its SAP Cloud practice and Wipro FullStride Cloud Services. The Indian IT firm said that the combined offering will assist clients in surfacing unique business opportunities and new competitive advantages with SAP cloud implementations.
Besides, the acquisition will help Wipro grow its position in the oil and gas, utilities, consumer, and manufacturing industries.
Thierry Delaporte — CEO and Managing Director of Wipro, commenting on Wipro acquisition of Rizing, said: “Rizing’s complementary consulting capabilities and strong client relationships will significantly boost our existing offering, creating one of the most differentiated SAP services in the marketplace. Together, we will be able to expand our presence in high-growth industry sectors.”
The deal, which is subject to regulatory approvals and other conditions, is likely to be wrapped up by the quarter ending 30 June 2022.
Earlier this month, Wipro acquired Convergence Acceleration Solutions (CAS Group), a consulting and program management company based in the US that caters to communications service providers (CSPs).