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WNS (Holdings) Limited, a India/US-based provider of global Business Process Management (BPM) services, has acquired Vuram, a Chennai-based enterprise automation services provider.
The consideration for the transaction is $165 million including up-front payment and expected earn-outs, and excludes adjustments for cash, debt, and working capital, says a WNS release.
WNS has funded the up-front payment for the acquisition with cash on hand. Based on Vuram’s revenue generated in fiscal 2022, the acquisition is expected to add approximately 2 per cent to WNS’ net revenue in fiscal 2023, and to be accretive to fiscal 2023 adjusted earnings.
Founded in 2011, Vuram has around 900 people with digital skillsets in India, the US, Mexico, Australia, Canada, and the UK, the release said.
Enterprise automation
Vuram helps companies accelerate digital transformation by aligning, automating, and optimising processes using a combination of low-code software applications and intelligent automation platforms. By integrating these technologies into core business operations, Vuram is able to drive end-to-end enterprise automation and the creation of custom, scalable BPM solutions.
“WNS expects that the acquisition of Vuram will accelerate our organisational journey towards digitally-led, human-assisted services and solutions. Their depth of knowledge in helping large global companies drive fast, scalable enterprise automation and business transformation is well-aligned with WNS’ short-term and long-term strategic plans,” said Keshav Murugesh, WNS’ Chief Executive Officer.
“Vuram is excited to join forces with WNS, an established leader in Business Process Management,” said Venkatesh Ramarathinam, Vuram’s Founder and CEO. “By combining the unique capabilities of our two companies, we will enable clients to accelerate the automation, optimisation, and transformation of their business models. We look forward to working with the WNS team to continue to create custom, technology-led solutions, and competitive advantage for our BPM clients.”
Avendus Capital was the exclusive financial advisor to Vuram and its shareholders on this transaction, said a company official.
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