Wipro Limited has signed a definitive agreement to acquire Rizing Intermediate Holdings. Wipro expects the global SAP consulting firm to significantly expand its breadth of capabilities in helping businesses transform into intelligent enterprises.
Rizing is headquartered in Stamford, USA, 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.
Mike Maiolo, chief executive officer, Rizing, explained, “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.”
Thierry Delaporte, chief executive officer and managing director, Wipro Limited, said, “We are thrilled to welcome the Rizing team to the Wipro family. 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.”
Rizing will become an extension of Wipro’s SAP Cloud practice and Wipro FullStride Cloud Services. The combined offering will help clients develop new business opportunities and competitive advantages through SAP cloud implementations.
The acquisition is subject to regulatory approvals and is expected to close before the end of the quarter ending June 30, 2022. Upon completion of the acquisition, Rizing will operate as Rizing, a Wipro company, under the leadership of Maiolo. Guggenheim Securities, LLC acted as exclusive financial advisor to Rizing for this transaction.