Avendus Capital Advises Vuram, a Global Leader in Enterprise Automation Services, on Its USD 165 mn Sale to WNS

WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced that 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 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 Optical Character Recognition (OCR) and Artificial Intelligence-based document processing, develop rule-based processing engines and Machine Learning-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.

Avendus Capital acted as the exclusive financial advisor to Vuram and its shareholders on this transaction.

Deal Value

USD 165 mn

Service

Mergers & Acquisitions

Sector

Enterprise Technology & Services

Date

July 2022

WNS expects the acquisition of Vuram will accelerate our organizational journey towards digitally-led, humanassisted 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 longterm strategic plans, 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.

Keshav Murugesh

Chief Executive Officer, WNS

Vuram is excited to join forces with WNS, an established leader in Business Process Management, 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 add to competitive advantage for our BPM clients.

Vuram

Founder and CEO

This transaction is one of the largest sales of a hyper-automation services specialist. Hyper-automation initiatives continue to garner bigger portions of enterprise digital transformation spends as they deliver quick ROI and help make enterprise workflows frictionless. WNS’ acquisition of Vuram creates massive synergy potential and enables them to handhold clients along their digital transformation journeys and it once again underlines the increasing convergence of technology and BPM services

Abhinav Goel

Executive Director, Enterprise Technology and Services Investment Banking, Avendus Capital.

About Vuram

Founded in 2011 and headquartered in Chennai, India, Vuram currently employs approximately 900 digital resources 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 USD 165 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.