IT major Wipro announced the acquisition of US-based Rizing Intermediate Holdings, Inc, for $540 million in an all-cash deal, to expand its capabilities in SAP consulting.
Rizing is the latest in a series of acquisitions by Wipro, underscoring the company’s ambitious growth agenda.
The company expects that Rizing’s high-touch approach, along with its industry expertise and SAP consulting capabilities in enterprise asset management, consumer industries, and human experience management, will be instrumental in advancing Wipro’s position as a sought-after advisor for clients’ most complex SAP transformations.
Rizing reported consolidated net revenues of $193.8 million for the year ended December 31, 2021, up 40% from $138.3 million in 2020. In 2019, the consolidated revenue of the company stood at $156.9 million.
Commenting on the acquisition, Thierry Delaporte, CEO & MD, Wipro, 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.”
According to a company statement, the combined offering from both firms will help Wipro expand its leadership in oil & gas, utilities, manufacturing, and consumer industries.
Mike Maiolo, chief executive officer, Rizing, said, “Combining the two firms will allow us to scale our services and expand our footprint in the market.”