Wipro will Acquire a 100% stake in Rizing

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Wipro will Acquire a 100% stake in Rizing
27 Apr 2022
5 min read

News Synopsis

On Monday, one of the major IT companies in India, Wipro informed that it will acquire a 100% stake in Rizing Intermediate Holdings for about $540 million (around Rs 4,135 crore) in an all-cash deal. The IT firm hopes that this acquisition will scale up its systems, applications & products (SAP) consulting capabilities. US-based Rizing is the latest in a series of acquisitions by Wipro. In a statement, Wipro said, "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.”

The acquisition will need anti-trust approvals under the competition laws of the US, Germany, and Canada. The acquisition is estimated to be completed before the quarter ending June 30, 2022. In a statement, Wipro Limited’s chief executive officer and managing director Thierry Delaporte said, "Rizing's complimentary 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.”

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