Wipro to acquire Rizing for $540 mn

New Delhi: IT company Wipro Limited will acquire 100 per cent stake in Rizing Intermediate Holdings for about $540 million (around Rs4,135 crore) in an all-cash deal to scale up its SAP consulting capabilities, the company said on Tuesday.

US-based 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," Wipro said in a statement.

The deal will require anti-trust approvals under the competition laws of the United States of America, Germany and Canada. The transaction is expected to be completed before the quarter ending June 30, 2022. "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.