Acquisition to convey collectively Wipro’s international scale with the strategic SAP consulting capabilities and deep trade experience of Rizing
— Mike Maiolo, CEO, Rizing
STAMFORD, PA, UNITED STATES, April 28, 2022 /EINPresswire.com/ — Wipro Restricted (NYSE: WIT, BSE: 507685, NSE: WIPRO), a number one international data expertise, consulting, and enterprise course of companies firm, immediately introduced that it has signed a definitive settlement to amass Rizing Intermediate Holdings, Inc. (“Rizing”), a world SAP consulting agency, considerably increasing its breadth of capabilities in serving to companies rework into clever enterprises.
Rizing is the newest in a sequence of acquisitions by Wipro, underscoring the corporate’s formidable development agenda. Rizing’s high-touch method, together with its trade experience and SAP consulting capabilities in enterprise asset administration, client industries, and human expertise administration, will likely be instrumental in advancing Wipro’s place as a sought-after advisor for purchasers’ most advanced SAP transformations.
“We’re thrilled to welcome the Rizing crew to the Wipro household,” mentioned Thierry Delaporte, Chief Govt Officer & Managing Director, Wipro Restricted. “Rizing’s complementary consulting capabilities and robust consumer relationships will considerably increase our current providing, creating one of the differentiated SAP companies within the market. Collectively, we can develop our presence in high-growth trade sectors.”
Rajan Kohli, President of Wipro’s iDEAS (Built-in Digital, Engineering and Utility Providers) enterprise, added, “Our purchasers’ digital transformation wants are quickly evolving, and they’re turning to us to assist them change into Clever enterprises. Rizing’s area experience, mixed with our cloud and digital options, will permit us to assist purchasers unlock new worth and construct agile companies for a brand new period of digitalization.”
As one of many main strategic companions on this planet for SAP, Rizing will change into a vital extension of Wipro’s SAP Cloud apply and Wipro FullStride Cloud Providers. The mixed providing will assist purchasers floor distinctive enterprise alternatives and new aggressive benefits by SAP cloud implementations. It is going to additionally assist Wipro develop its management in oil & fuel, utilities, manufacturing, and client industries.
“That is the subsequent section of development for Rizing. With Wipro’s backing, we can improve the worth we ship to our present purchasers and produce our differentiated providing to a broader universe of companies,” mentioned Mike Maiolo, Chief Govt Officer, Rizing. “Combining the 2 corporations will permit us to scale our companies and develop our footprint out there. We’re thrilled to hitch an organization that shares our values and imaginative and prescient, enabling us to develop in new strategic areas.”
Upon completion of the acquisition, Rizing will function as Rizing, a Wipro firm, beneath the management of Maiolo.
Rizing is headquartered in Stamford, CT, and has greater than 1300 staff in 16 international locations throughout North America, Europe, Asia, and Australia. Rizing was beforehand owned by personal fairness agency One Fairness Companions.
Guggenheim Securities, LLC acted as unique monetary advisor to Rizing for this transaction.
The acquisition is topic to regulatory approvals and is anticipated to shut earlier than the tip of the quarter ending June 30, 2022.
About Wipro Restricted
Wipro Restricted (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a number one international data expertise, consulting, and enterprise course of companies firm. We harness the facility of cognitive computing, hyper-automation, robotics, cloud, analytics, and rising applied sciences to assist our purchasers adapt to the digital world and make them profitable. An organization acknowledged globally for its complete portfolio of companies, robust dedication to sustainability and good company citizenship, we have now over 220,000 devoted staff serving purchasers throughout six continents. Collectively, we uncover concepts and join the dots to construct a greater and a daring new future.
It’s the expertise that issues. Rizing professionals assist your enterprise succeed at any level in your SAP journey. Rizing’s goal is to empower your enterprise to unlock the clever enterprise with SAP cloud applied sciences, our geospatial options, and our proprietary, cutting-edge merchandise to optimize and prolong SAP similar to Blueline, Lyra, Codex, Mercury, and Hydrogen. With real-life expertise in enterprise areas like enterprise asset administration, human capital administration, and client industries, we all know find out how to simplify your digital transformation in order that your enterprise might be all the pieces you need it to be. From focused small enterprise must full-scale giant enterprise useful resource planning options, our SAP-certified consultants are centered in your development. For extra data, please go to www.rizing.com or contact: Rizing Intermediate Holdings, Inc. at +1 (203) 517-0400, firstname.lastname@example.org.
About One Fairness Companions
One Fairness Companions (“OEP”) is a center market personal fairness agency centered on the commercial, healthcare, and expertise sectors in North America and Europe. The agency builds market-leading firms by figuring out and executing transformative enterprise mixtures. OEP is a trusted companion with a differentiated funding course of, a broad and senior crew, and a longtime observe report producing long-term worth for its companions. Since 2001, the agency has accomplished greater than 300 transactions worldwide. OEP, based in 2001, spun out of JP Morgan in 2015. The agency has workplaces in New York, Chicago, Frankfurt and Amsterdam. For extra data, please go to www.oneequity.com.
Wipro Media Contact:
Rizing Media Contact:
The forward-looking statements contained herein symbolize Wipro’s beliefs relating to future occasions, lots of that are by their nature, inherently unsure and outdoors Wipro’s management. Such statements embody, however usually are not restricted to, statements relating to Wipro’s development prospects, its future monetary working outcomes, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are topic to dangers and uncertainties that would trigger precise outcomes to vary materially from the outcomes anticipated by such statements. Such dangers and uncertainties embody, however usually are not restricted to, dangers and uncertainties relating to fluctuations in our earnings, income and income, our means to generate and handle development, full proposed company actions, intense competitors in IT companies, our means to keep up our price benefit, wage will increase in India, our means to draw and retain extremely expert professionals, time and price overruns on fixed-price, fixed-time body contracts, consumer focus, restrictions on immigration, our means to handle our worldwide operations, diminished demand for expertise in our key focus areas, disruptions in telecommunication networks, our means to efficiently full and combine potential acquisitions, legal responsibility for damages on our service contracts, the success of the businesses during which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, conflict, authorized restrictions on elevating capital or buying firms outdoors India, unauthorized use of our mental property and basic financial circumstances affecting our enterprise and trade. The circumstances brought on by the COVID-19 pandemic may lower expertise spending, adversely have an effect on demand for our merchandise, have an effect on the speed of buyer spending and will adversely have an effect on our clients’ means or willingness to buy our choices, delay potential clients’ buying choices, adversely influence our means to offer on-site consulting companies and our incapability to ship our clients or delay the provisioning of our choices, all of which may adversely have an effect on our future gross sales, working outcomes and total monetary efficiency. Our operations may be negatively affected by a spread of exterior components associated to the COVID-19 pandemic that aren’t inside our management. Further dangers that would have an effect on our future working outcomes are extra absolutely described in our filings with the USA Securities and Change Fee, together with, however not restricted to, Annual Reviews on Type 20-F. These filings can be found at www.sec.gov. We could, every so often, make extra written and oral forward-looking statements, together with statements contained within the firm’s filings with the Securities and Change Fee and our studies to shareholders. We don’t undertake to replace any forward-looking assertion that could be made every so often by us or on our behalf.
Who’s Rizing? We’re.