Privately-held global SAP consulting company Rizing has recently acquired attune Consulting, a Sri Lankan-owned firm with expertise in SAP S/4HANA solutions for the fashion and lifestyle sectors, in a bid to boost its global SAP capabilities across consumer industries.
According to an S&P Global Market Intelligence report, the emerging economies in South and Southeast Asia will be hot destinations for investments due to its opening-up policies, attractive markets, and growth opportunities. Additionally, mergers and acquisitions (M&A) activity in the Asia-Pacific (APAC) region has been active — fuelled by promising returns and growth prospects — as the COVID-19 pandemic accelerates industry consolidation.
A recent example of an active M&A movement in APAC is Rizing’s acquisition of attune Consulting, a software subsidiary of MAS Holdings. Dubbing it as a “significant investment in a Sri Lankan-owned global technology firm,” MAS Holdings stated that Rizing will help attune Consulting in scaling and growing its business in the years to come.
attune Consulting started as an in-house project collaborating with SAP to develop and launch SAP Apparel and Footwear Solutions (AFS). It was officially incorporated in 2006 within MAS Holdings.
Furthermore, MAS Holdings also said that the sale was in fulfillment of its long-term strategic plan which included the divestment of attune Consulting as one of its objectives. Mahesh Amalean, Chairman, MAS Holdings Chairman said in a statement:
“The acquisition by Rizing ensured that attune would benefit from Rizing’s global scale and expertise, and that their customers and employees continue to thrive as part of a leading solutions provider in the fashion and consumer industries.”
Additionally, Amalean also mentioned that MAS Holdings will continue to work closely with Rizing and attune Consulting with regards to the ongoing support and implementation of SAP products and services across MAS Holdings’ strategic business units in Sri Lanka and overseas.
Leveraging attune Consulting’s Industry Expertise to Strengthen SAP Capabilities
With more than 500 employees globally, attune Consulting has established offices across key regions including India, Australia, China, Hong Kong, Italy, Germany, the United Kingdom, the United States, and the Netherlands to help meet their clients’ global requirements.
In recent years, attune Consulting has helped companies to transition to the digital age by leveraging the latest SAP technology. The global solutions provider’s co-innovation partnership with SAP has resulted in the SAP Fashion Management application, a solution designed to bring all business operations onto a single platform to create cross-channel, integrated fashion companies.
Moreover, Vajira de Silva, Chief Executive Officer, attune Consulting, expressed his delight at the company’s latest venture. He remarked:
“This merging of Rizing’s and attune’s industry knowledge and experience will provide our long-term valuable clients with access to exciting new technologies and talented resources. The strength of the combined companies will allow us to grow into new markets and augment our products and services to better address the needs of existing and new clients.”
Meanwhile, Rizing is a portfolio company of One Equity Partners with offices in 11 countries and provides customers with solutions across Human Capital Management, Enterprise Asset Management, and Consumer Industries. According to the company’s press statement, it believes attune Consulting’s team will help raise its capacity to meet the growing needs for technology solutions that track, manage, and predict customer activity in multiple channels globally.
According to Rizing Chief Executive Officer Mike Maiolo, attune Consulting will help elevate its position across all aspects of the fashion segment and expand its capabilities in SAP Consumer Industries. He further said in a statement:
“Customers from both organisations benefit from this transaction. Now, two of the top SAP Partners in Consumer Industries and Fashion are a united force to deliver unmatched value through combined experience, expertise, and scale.”
