Wipro to acquire US-based SAP consulting co Rizing for $540-M

Publicly listed company Wipro Ltd will acquire 100% stake in Stamford, CT (USA)-based SAP consulting focussed IT Services company, Rizing Intermediate Holdings Inc, for about USD 540 million (around INR 4,135 crore) in an all-cash deal. Guggenheim Securities acted as exclusive financial advisor to Rizing for this transaction. Rizing has more than 1,300 employees in 16 countries across North America, Europe, Asia, and Australia. Rizing has industry expertise and SAP consulting capabilities in enterprise asset management, consumer industries, and human experience management. It was previously owned by private equity firm One Equity Partners.