Business process management company WNS has announced the acquisition of Chennai-headquartered enterprise automation services company Vuram on Friday.
Consideration for the transaction is $165 million including up-front payment and expected earn-outs, and excludes adjustments for cash, debt, and working capital, according to a press statement. 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% to WNS’ net revenue in fiscal 2023, and to be accretive to fiscal 2023 adjusted earnings.
Vuram offers end-to-end enterprise automation and the creation of custom, scalable BPM solutions. These solutions include the ability to extract, collect, and categorize data using artificial intelligence (AI)-based document processing, develop rule-based processing engines and ML-based augmentation, and leverage advanced analytics.
“WNS expects that the acquisition of Vuram will accelerate our organizational 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, chief executive officer of WNS.
Founded in 2011, the target has approximately 900 people across India, the United States, Mexico, Australia, Canada, and the UK.
Source: Economic Times