New York, United States & Mumbai, Maharashtra, India – 01 July 2022: WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced it has acquired Vuram, a global leader in enterprise automation services. Vuram helps companies accelerate digital transformation by aligning, automating, and optimizing 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. These solutions include the ability to extract, collect, and categorize data using OCR and AI-based document processing, develop rule-based processing engines and ML-based augmentation, and leverage advanced analytics to improve decision-making. Vuram has also created customizable, low-code, “plug and play” solutions across front, middle, and back-office functions, including industry-specific solutions for the Banking/Financial Services, Insurance, and Healthcare verticals.
“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, WNS’ Chief Executive Officer. “We believe that Vuram is an excellent fit for WNS with respect to capability, approach, and culture, and brings a proven track record of delivering strong growth, healthy margins, and exceptional customer value. We are pleased to welcome the Vuram team to WNS.”
“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, optimization, 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.”
Founded in 2011 and headquartered in Chennai, India, Vuram currently has approximately 900 people with digital skillsets in India, the United States, Mexico, Australia, Canada, and the UK. Vuram was ranked among India’s best companies to work for in 2022 (#52), and one of the top 25 best workplaces in IT and IT-BPM (2021) by Great Place to Work Institute. The company has also been recognized by industry analysts including Gartner (Change Communications), ISG (Digital Consulting, Digital CX, Data Engineering), and HfS (Integrated & Intelligent Automation Services). Recently, Vuram was named to the Inc 5000 list of fastest-growing US private companies.
Consideration for the transaction is $165.0 million including up-front payment and expected earn-outs, and excludes adjustments for cash, debt, and working capital. 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. Adjusted earnings refers to adjusted net income (ANI), which is a non-GAAP financial measure and is calculated as profit excluding goodwill amortization, share-based expense, and amortization of intangible assets and including the tax effect thereon.
WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics, and process expertise to co-create innovative, digitally led transformational solutions with over 400 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of March 31, 2022, WNS had 52,081 professionals across 54 delivery centers worldwide including facilities in China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, the United Kingdom, and the United States.
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