Wipro is acquiring SAP cloud application consulting firm Rizing Intermediate Holdings from mid-market private equity firm One Equity Partners, the three companies announced. Financial terms of the deal were not disclosed.
This is technology M&A deal number 414 that ChannelE2E has covered so far in 2022.
Rizing: SAP Consultant's Software Expertise, Business Background
Private equity firm One Equity Partners had owned Rizing since 2018. Rizing, founded in 2003, had two core brands and associated focus areas as of 2021:
- Vesta Partners, an enterprise asset management (EAM) professional services firm.
- /N SPRO, a firm that encompasses /N SPRO HCM and /N SPRO Retail.
Rizing is based in Stamford, Connecticut, and has employees in 16 countries across North America, Europe, Asia and Australia, the seller said. Rizing's headcount has grown to more than 1,300 employees as of April 2022 -- up from 750 employees in April 2021. Much of the recent headcount growth involved Rizing acquiring Attune Consulting for SAP S/4 HANA expertise in the fashion industry. That M&A deal surfaced in May 2021.
Rizing’s SAP consulting capabilities span enterprise asset management, consumer industries, and human experience management, the seller said.
The sale to WiPro is expected to close before the end of June 2022. From there, the acquired business will operate as Rizing, a Wipro company. Rizing CEO Mike Maiolo will continue to lead the business. The acquired company will become a "critical extension" of Wipro’s SAP Cloud practice and Wipro FullStride Cloud Services, the buyer said. The deal will also help Wipro expand its capabilities in oil & gas, utilities, manufacturing, and consumer industries, the buyer asserted.
Wipro Acquires SAP Consulting Company Rizing: Executive Perspectives
In a prepared statement about the deal, Wipro CEO and Managing Director Thierry Delaporte 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.”
Added Rajan Kohli, president of Wipro’s iDEAS (Integrated Digital, Engineering and Application Services) business:
“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.”
Concluded Maiolo:
“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.”
Wipro: Previous Technology Consulting Acquisitions
Wipro has made multiple acquisitions across various application consulting and cybersecurity markets. See this extensive list of Wipro acquisitions here.
