The enterprise automation services provider Vuram with headquarters in Chennai, was acquired by the business process management company WNS.
According to a press release, the transaction’s consideration, which excludes adjustments for cash, debt, and working capital, is $165 million, including the upfront payment and anticipated earn-outs. With funds on hand, WNS has funded the acquisition’s upfront payment.
The acquisition is expected to increase WNS’ net revenue by around 2% in fiscal 2023 and to maximize fiscal 2023 adjusted earnings based on the revenue earned by Vuram in fiscal 2022.
Vuram provides complete business automation as well as the creation of custom, scalable BPM solutions. These solutions include the capacity to construct rule-based processing engines and ML-based augmentation, use advanced analytics, and extract, collect, and categorize data using document processing based on artificial intelligence (AI).
“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.
