Wipro is acquiring Rizing Intermediate Holdings, a global SAP consulting firm, for $540 million. Rizing is the latest in a series of acquisitions by Wipro under CEO Thierry Delaporte, who joined the company in July 2020.
Wipro said in a statement that Rizing's industry expertise and SAP consulting capabilities in enterprise asset management, consumer industries, and human experience management, will be critical in advancing Wipro's position as a sought-after advisor for clients' most complex SAP transformations.
“Rizing’s complimentary 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,” said Thierry Delaporte, Chief Executive Officer & Managing Director, Wipro Limited.
Rajan Kohli, President of Wipro’s iDEAS (Integrated Digital, Engineering and Application Services) business, added, “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.”
Rizing will become a critical extension of Wipro’s SAP Cloud practice and Wipro FullStride Cloud Services. The combined offering will also help Wipro expand its leadership in oil and gas, utilities, manufacturing, and consumer industries, said the statement.
“Combining the two firms will allow us to scale our services and expand our footprint in the market, said Mike Maiolo, Chief Executive Officer, Rizing.”
Upon completion of the acquisition, Rizing will operate as Rizing, a Wipro company, under the leadership of Maiolo.
Rizing is headquartered in Stamford, CT, and has more than 1300 employees in 16 countries across North America, Europe, Asia, and Australia. Rizing was previously owned by private equity firm One Equity Partners.
The acquisition is subject to regulatory approvals and is expected to close before the end of the quarter ending June 30, 2022.