IT services provider Wipro has purchased SAP consultant Rizing Intermediate Holdings, gaining access to a wide variety of solutions required for implementing SAP cloud.
Stamford-based Rizing employs more than 1,200 people across delivery centers in nearly a dozen countries, including Australia, Malaysia, Singapore, Britain and the Netherlands. It resells a range of technology solutions from vendors working in the SAP ecosystem.
The acqusition will bolster Wipro’s SAP cloud practice and fullstride cloud services, according to analysts.
“Rizing’s complimentary consulting capabilities and strong client relationships will significantly boost our existing offering,” said Wipro’s CEO Thierry Delaporte.
Wipro has not disclosed the financial details of the deal, yet some news outlets have put the purchasing price at US$540 million.
Founded in 2003, Rizing is owned by PE firm One Equity Partners. “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,” stated Rajan Kohli, President of Wipro’s iDEAS business unit.
Even after the transaction, Rizing will operate independently, with its current CEO, Mike Maiolo, continuing to lead.