Adds Strategic Sourcing and Category Management Capability to WNS
Solution Suite
NEW YORK & MUMBAI, India--(BUSINESS WIRE)--Jan. 10, 2017--
WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global
Business Process Management (BPM) services, today announced that on
January 10, 2017, the company entered into a definitive agreement to
acquire Denali Sourcing Services (Denali), a leading provider of
strategic procurement BPM solutions. Denali delivers high-end global
sourcing and procurement services to some of the world’s leading brands
in the High-Tech, Retail/CPG, Banking and Financial Services, Utilities,
and Healthcare verticals. Denali provides comprehensive
Source-to-Contract (S2C) solutions, including Category Management,
Strategic Sourcing, Contract and Supplier Management, and Spend
Analytics. Denali Sourcing Services has built a proprietary smart
technology system to perform spend analytics, and a procurement value
management and tracking platform called SmarTrak. Additionally, Denali
Sourcing Services has developed Denali Academy, an industry-leading
training platform designed to enable strategic procurement capabilities
for clients. Focused solely on procurement, Denali has pioneered
“sourcing as a service” in a technology-agnostic capacity, and currently
manages over $30 billion in spend on behalf of over 25 clients via a
multi-location global delivery network. Over 90% of Denali’s revenue is
recurring in nature, and over 95% of revenue is derived from clients in
the United States.
“The acquisition of Denali Sourcing Services adds a strategic
procurement capability to our existing Finance and Accounting solutions.
Denali is a unique asset which we believe helps position WNS as an
industry leader in F&A, and enhances our Industry Specific Solutions,”
said Keshav Murugesh, WNS’ Chief Executive Officer. “In combination with
our existing Procure-to-Pay (P2P) capabilities, the acquisition of
Denali will enable us to offer complete end-to-end Source-to-Pay (S2P)
solutions. We are pleased to welcome this talented team to WNS, and look
forward to leveraging their expertise to help drive increased value for
all of our key stakeholders.”
“Denali Sourcing Services is excited to join the WNS team, and looks
forward to bringing our combined market-leading procurement solutions to
the broader BPM marketplace,” said Alpar Kamber, Founder and CEO, Denali
Sourcing Services. “Having successfully worked together over the past
three years, we believe this combination is a good strategic and
cultural fit. We are confident that WNS’ capabilities, market presence
and customer base will allow us to drive deeper client value, expand our
reach, and create new offerings.”
The acquisition of Denali Sourcing Services is subject to customary
closing conditions, and is expected to close in January, 2017. Cash
consideration for the transaction is $40.0 million plus adjustments for
cash and working capital. WNS intends to fund the consideration
primarily with long-term debt. The acquisition is expected to contribute
approximately $3 million in revenue for WNS in the fiscal year ending
March 31, 2017, and to be accretive to fiscal 2017 earnings. Denali
currently employs over 200 cost and procurement professionals globally.
About WNS
WNS (Holdings)
Limited (NYSE: WNS), is a leading global business process management
company. WNS offers business value to 200+ global clients by combining
operational excellence with deep domain expertise in key industry
verticals including Travel, Insurance, Banking and Financial Services,
Manufacturing, Retail and Consumer Packaged Goods, Shipping and
Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of
business process management services such as finance and accounting,
customer care, technology solutions, research and analytics and industry
specific back office and front office processes. As of September 30,
2016, WNS had 31,719 professionals across 42 delivery centers worldwide
including China, Costa Rica, India, Philippines, Poland, Romania, South
Africa, Sri Lanka, United Kingdom and the United States. For more
information, visit www.wns.com.
Safe Harbor Statement
This
release contains forward-looking statements, as defined in the safe
harbor provisions of the US Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on our current
expectations and assumptions about Denali Sourcing Services (Denali) and
our industry. Generally, these forward-looking statements may be
identified by the use of terminology such as “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “will,” “seek,” “should” and similar
expressions. These statements include, among other things, the
discussions of the completion of our acquisition of Denali, the timing
of the completion of our acquisition of Denali, and the expected
benefits of our acquisition of Denali, including Denali’s expected
revenue contribution to WNS and accretive benefit to our earnings, our
growth opportunities, industry environment, and expectations concerning
our future financial performance and growth potential. Forward-looking
statements inherently involve risks and uncertainties that could cause
actual results to differ materially from those expressed or implied by
such statements. Such risks and uncertainties include but are not
limited to worldwide economic and business conditions; political or
economic instability in the jurisdictions where we have operations; our
dependence on a limited number of clients in a limited number of
industries; regulatory, legislative and judicial developments;
increasing competition in the BPM industry; technological innovation;
telecommunications or technology disruptions; our liability arising from
fraud or unauthorized disclosure of sensitive or confidential client and
customer data; our ability to attract and retain clients; negative
public reaction in the US or the UK to offshore outsourcing; our ability
to expand our business or effectively manage growth; our ability to hire
and retain enough sufficiently trained employees to support our
operations; the effects of our different pricing strategies or those of
our competitors; our ability to successfully consummate, integrate and
achieve accretive benefits from our strategic acquisitions, and to
successfully grow our revenue and expand our service offerings and
market share; and future regulatory actions and conditions in our
operating areas. These and other factors are more fully discussed in our
most recent annual report on Form 20-F filed on May12, 2016 with the US
Securities and Exchange Commission (SEC) which are available at www.sec.gov.
We caution you not to place undue reliance on any forward-looking
statements. Except as required by law, we do not undertake to update any
forward-looking statements to reflect future events or circumstances.
References to “$” refer to the United States dollars, the legal currency
of the United States.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170110005682/en/
Source: WNS
WNS (Holdings) Limited
David Mackey
Corporate SVP–Finance &
Head of Investor Relations
+1 (201) 942-6261
david.mackey@wns.com
or
Archana
Raghuram
Head – Corporate Communications
+91 (22) 4095 2397
archana.raghuram@wns.com;
pr@wns.com