Wipro LTD has acquired SAP consulting firm, Rizing Intermediate Holdings, for $540m, significantly expanding its breadth of capabilities in helping businesses transform into intelligent enterprises. The deal is expected to close before June 30, 2022.
Rizing is the latest in a series of acquisitions by Wipro, which underscores the company’s ambitious growth agenda. With its industry expertise and SAP consulting capabilities in enterprise asset management, the acquisition of Rizing will be instrumental in advancing Wipro’s position as a sought-after advisor for clients’ SAP transformations.
Headquartered in Stamford, Connecticut, Rizing is home to more than 1,300 employees in 16 countries across North America, Europe, Asia and Australia, and was previously owned by private equity firm, One Equity Partners.
As one of the leading strategic partners in the world for SAP, Rizing will become a critical extension of Wipro’s SAP Cloud practice and Wipro FullStride Cloud Services. This combined offering will enable Wipro’s clients to surface unique business opportunities and new competitive advantages through SAP cloud implementations also helping Wipro expand its leadership.
Rajan Kohli, president of Wipro’s iDEAS (integrated digital, engineering and application services) business, said: “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 digitalization.”
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.”