Wipro acquires Rizing to create SAP consulting powerhouse; stock skids ~2.5%

27 Apr 2022 , 10:55 AM

Wipro Limited, a leading global information technology, consulting, and business process services company, has signed a definitive agreement for the acquisition of Rizing Intermediate Holdings, Inc. (Rizing).

It is a global SAP consulting firm, significantly expanding its breadth of capabilities in helping businesses restructure into intelligent enterprises.

Latest in the series of acquisitions by Wipro, Rizing perfectly aligns with the ambitious growth agenda of the company.

Rizing’s industry expertise and high-touch approach along with SAP consulting capabilities in enterprise asset management, human experience management, and consumer industries will enable the company to advance its position as a most sought-after advisor for clients’ most complex SAP transformations.

“We are delighted to welcome the Rizing team to the Wipro family,” commented Thierry Delaporte, Chief Executive Officer & Managing Director, Wipro Limited.

He further added, “Rizing’s excellent consulting capabilities and robust client relationships will significantly elevate our existing offering, creating one of the most differentiated SAP services companies in the marketplace. Together, we will be able to further expand our presence in high-growth industry sectors.”

At around 10.58 AM, Wipro was trading at Rs518.10, down by Rs11.25 or 2.13% from its previous closing of Rs529.35 on the BSE. The scrip opened at Rs527.20 and has touched day’s high and low of Rs527.20 and Rs514.65 respectively so far.