Acquisition to bring together Wipro’s global scale with the strategic SAP consulting capabilities and deep industry expertise of Rizing
NEW YORK & BANGALORE, India–(BUSINESS WIRE)–#Acquisition—Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced that it has signed a definitive agreement to acquire Rizing Intermediate Holdings, Inc. (“Rizing”), a global SAP consulting firm, significantly expanding its breadth of capabilities in helping businesses transform into intelligent enterprises.
Rizing is the latest in a series of acquisitions by Wipro, underscoring the company’s ambitious growth agenda. 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.
“We are thrilled to welcome the Rizing team to the Wipro family,” said Thierry Delaporte, Chief Executive Officer & Managing Director, Wipro Limited. “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.”
Rajan Kohli, President of Wipro’s iDEAS (Integrated Digital, Engineering and Application Services) business, added, “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.”
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. The combined offering will help clients surface unique business opportunities and new competitive advantages through SAP cloud implementations. It will also help Wipro expand its leadership in oil & gas, utilities, manufacturing, and consumer 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, Chief Executive Officer, 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.”
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.
Guggenheim Securities, LLC acted as exclusive financial advisor to Rizing for this transaction.
The acquisition is subject to regulatory approvals and is expected to close before the end of the quarter ending June 30, 2022.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting, and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics, and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 220,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
It’s the experience that matters. Rizing professionals help your business succeed at any point in your SAP journey. Rizing’s objective is to empower your business to unlock the intelligent enterprise with SAP cloud technologies, our geospatial solutions, and our proprietary, cutting-edge products to optimize and extend SAP such as Blueline, Lyra, Codex, Mercury, and Hydrogen. With real-life experience in business areas like enterprise asset management, human capital management, and consumer industries, we know how to simplify your digital transformation so that your business can be everything you want it to be. From targeted small business needs to full-scale large enterprise resource planning solutions, our SAP-certified consultants are focused on your growth. For more information, please visit www.rizing.com or contact: Rizing Intermediate Holdings, Inc. at +1 (203) 517-0400, email@example.com.
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
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