Wipro adds Australian SAP team via $540 million Rizing purchase
Following a string of recent big-sum acquisitions, Wipro has now added global SAP consultancy Rizing, in a move that also bolsters the firm’s local Australian practice.
Indian ICT services and consulting giant Wipro has forked out US$540 million for the purchase of US-headquartered SAP consultancy Rizing, which has a dozen further international locations worldwide, including in Sydney, Melbourne and Perth.
Rizing will continue to operate under its existing name upon the completion of the deal, expected before the end of the quarter, with CEO Mike Maiolo to remain at the helm.
“This is the next phase of growth for Rizing,” said Maiolo. “With Wipro’s backing, we will be able to enhance the value we deliver to our current clients and bring our differentiated offering to a broader universe of businesses. Combining the two firms will allow us to scale our services and expand our footprint in the market. We are thrilled to join a company that shares our values and vision, enabling us to grow in new strategic areas.”
Rizing was established in 2014 as the parent of SAP Enterprise Asset Management firm Vesta Partners, which first entered the Australian market in 2011, and SAP Human Capital Management and SuccessFactors firm /N SPRO, with Vesta co-founder Maiolo appointed to the CEO role at the time. The company was purchased by private equity firm One Equity Partners at the beginning of 2018, and has made five acquisitions since.
Bringing a headcount in excess of 1,300 professionals across North America, Europe and the Asia Pacific and annual revenues pushing the US$200 million mark, Wipro stated the acquisition would significantly expand its breadth of capabilities, and cited Rizing’s “high-touch approach, along with its SAP consulting capabilities in enterprise asset management, consumer industries, and human experience management.”
“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. Together, we will be able to expand our presence in high-growth industry sectors,” said Thierry Delaporte, who has overseen a number of large-scale acquisitions since taking over as Wipro CEO and managing director in the middle of 2020.
Among those acquisitions was US-based telecoms sector management and tech consultancy Convergence Acceleration Solutions, made earlier this month, while at the end of last year Wipro also picked up US cybersecurity consulting firm Edgile for US$230 million. The biggest recent deal however was the US$1.5 billion it paid for Capco last year, adding over 5,000 business and technology consultants to its financial services practice.
Rizing’s first foray into the Asia Pacific a decade ago was via a Vesta Partners office established in Melbourne, with former BHP veteran Peter Dunford appointed as managing director alongside operations director Craig Anderson and professional services director Drew Parkinson. The trio remain at the company in regional president and senior vice president roles, with Maiolo stating that Rizing’s executive team would be kept in place.
