Wipro is acquiring SAP consultant Rizing Intermediate Holdings for $540 million, or Rs 4,135 crore, in an all-cash deal. Rizing, based in Stamford, US, is a SAP solutions provider and services partner in North America and other markets. It has more than 1,300 employees with a presence in 16 countries.
The company posted net revenues of $194 million, with close to 60 per cent from retail, and fashion and consumer products. The rest come from manufacturing and tech (16 per cent) and energy and utilities, 17 per cent.
North America contributes 58 per cent to its revenue, Asia, 23 per cent and Europe, 19 per cent. In an announcement post market hours, Wipro said it has signed a definitive agreement to acquire Rizing.
Wipro expects the acquisition to expand its capabilities to help businesses transform into intelligent enterprises. The Bangalore-based company said it was banking on Rizing’s consultancy expertise in enterprise asset management, consumer industries and human experience management as it seeks to become a SAP consulting powerhouse in large projects.
The Indian company will utilise Rizing’s diverse global presence and workforce to expand its presence in Australia, Canada, Germany and the US.
“We are thrilled to welcome the Rizing team to the Wipro family. 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,” Thierry Delaporte, chief executive officer and managing director, Wipro Ltd, said.
Rizing will bring deep consulting capabilities, access to big clients and an opportunity to expand its presence in existing key accounts. “Our clients’ digital transformation needs are rapidly evolving, and they are turning to us to help them become intelligent enterprises.
Rizing’s domain expertise, combined with our cloud and digital solutions, will allow us to help clients unlock new value and build agile businesses for a new era of digitalisation,’’ Rajan Kohli, president of Wipro’s digital engineering and application services business, said.
