Rizing is expected to become a critical extension of the Indian firm’s SAP Cloud practice and Wipro FullStride Cloud Services
Rizing to be acquired by Indian IT firm Wipro. (Credit: Rameshng/Wikipedia.org)
Wipro has agreed to acquire Rizing Intermediate, a US-based SAP-focused provider of IT systems integration and implementation services, from One Equity Partners (OEP) for $540m.
Based in Stamford, Connecticut, Rizing has a workforce of more than 1,250 employees in 16 countries in North America, Europe, Asia, and Australia.
The company is said to specialise in IT business process solutions and value-added products, operating within the SAP ecosystem. These include enterprise asset management, human capital management, and associated IT solutions for clients across consumer industries.
It was acquired by One Equity Partners in 2018.
Rizing’s own acquisitions include Aasonn, 3DResults, and Transcend Spatial Solutions in the US, Synchrony Global in Singapore, and Attune Lanka in Sri Lanka.
Rizing CEO Mike Maiolo 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.”
After the completion of the deal, Rizing will operate as Rizing, a Wipro company, under the leadership of Maiolo.
According to Wipro, Rizing will be a crucial extension of its SAP Cloud practice and Wipro FullStride Cloud Services. The Indian IT major said that the combined offering will enable clients in surfacing unique business opportunities and new competitive advantages through SAP cloud implementations.
Wipro also expects the acquisition to strengthen its position in the utilities, oil and gas, consumer, and manufacturing sectors.
Wipro CEO and managing director Thierry Delaporte 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.”
The transaction, which is conditional on regulatory approvals and other conditions, is anticipated to close within the quarter ending 30 June 2022.