Wipro has reached an agreement to acquire Rizing, an SAP consulting firm with worldwide operations. Rizing is based in Stamford, Connecticut, and employs over 1300 people in 16 countries around North America, Europe, Asia, and Australia. Rizing was previously owned by private equity firm One Equity Partners.
Financial details of this acquisition were not disclosed. The Rizing acquisition is the latest in a long line of acquisitions that demonstrate Wipro’s aggressive expansion plans. Wipro’s position as a sought-after adviser for clients’ most challenging SAP conversions would be bolstered by Rizing’s high-touch approach, as well as its industry knowledge and SAP consulting skills in enterprise asset management, consumer industries, and human experience management.
“We are thrilled to welcome the Rizing team to the Wipro family,” said Thierry Delaporte, CEO and Managing Director at Wipro. “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.”
Wipro’s SAP Cloud Practice
Upon completion of the acquisition, Rizing will operate as Rizing, a Wipro company, under the leadership of Maiolo.
“Our clients’ digital transformation needs are rapidly evolving, and they are turning to us to help them become Intelligent enterprises,” said Rajan Kohli, President of Wipro’s iDEAS (Integrated Digital, Engineering and Application Services) business. “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 as one of the world’s leading strategic partners for SAP. Through SAP cloud installations, the integrated offering will assist clients in identifying unique business prospects and new competitive advantages. It would also aid Wipro’s growth in the oil and gas, utilities, manufacturing, and consumer goods industries.
“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,” said Mike Maiolo, CEO at Rizing. “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.”
For this transaction, Guggenheim Securities served as Rizing’s sole financial advisor. The deal is scheduled to conclude by the end of the quarter ending June 30, 2022, pending regulatory clearances.