Wipro Ltd., announced the acquisition of Rizing Intermediate Holdings, Inc., a global SAP consulting firm, for $ 540 million, to boost its SAP cloud practice and help the clients transform the businesses into intelligent enterprises.

Rizing is the latest in a series of acquisitions by Wipro, highlighting the firm’s ambitious growth agenda under chief executive Thierry Delaporte.

According to reports, after the acquisition Rizing will operate as a Wipro unit under the leadership of its current chief executive Mike Maiolo. Based in Stamford, Connecticut in the US, Rizing has more than 1,300 employees in 16 countries across North America, Europe, Asia, and Australia.

The acquisition is subject to regulatory approvals and is expected to close before 30 June.

According to Wipro, Rizing’s high-touch approach, along with its industry expertise and SAP consulting capabilities in enterprise asset management, consumer industries, and human experience management, will be instrumental in advancing Wipro’s position as a sought-after adviser for clients’ most complex SAP transformations.

Delaporte says, “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.”

As one of the leading strategic partners in the world for SAP, Rizing will become a critical extension of Wipro’s SAP cloud practice and Wipro FullStride cloud services. The combined offering will help Wipro expand its leadership in oil and gas, utilities, manufacturing, and consumer industries.

Rajan Kohli, president, Wipro’s iDEAS (integrated digital, engineering and application services) business says, “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 digitization.”