WNS Acquires The Smart Cube, OptiBuy to Strengthen Procurement &#038; Analytics Capabilities
Global business process outsourcing firm WNS announced that it acquired The Smart Cube, AI and analytics firm focused on procurement and supply chain, alongside OptiBuy, an international consultancy specialising in procurement management. With this acquisition, the company looks to strengthen its offerings and capabilities in high-end procurement and advanced analytics. WNS acquired The Smart Cube for about $125 million. The company said the acquisition will add approximately $9 million to WNS’ net revenue in FY2023. OptiBuy, on the other hand, was acquired for $30 million. It is said that the acquisition is expected to add about $2 million to WNS’ net revenue in FY2023. Moreover, WNS has funded the up-front payments for these acquisitions with a combination of cash and £83 million of long-term debt. The Smart Cube chief Gautam Singh said that, over two decades, they had built a strong business based on delivering value for their clients by leveraging AI+HI (artificial intelligence + human intelligence) methodology. “We are delighted to join WNS in the next phase of our growth journey,” he added. Founded in 2003, The Smart Cube provides digitally-led market intelligence and analytics solutions. The company offers services in four key areas: digital and analytics, procurement and supply chain, commercial sales and marketing, and strategy and investment research. Earlier this month, The Smart Cube was certified as a Best Firm for Data Scientists by Analytics India Magazine. Headquartered in London, UK, and offices in Noida (India), Timișoara (Romania), Switzerland, and Chicago (USA), The Smart Cube has over 800 global employees, including a seasoned leadership team, and more than 600 R&A specialists. OptiBuy managing director Mateusz Borowiecki said that it believes that the acquisition will enable the creation of holistic digital procurement and supply chain solutions for the global marketplace. Founded in 2010, OptiBuy is one of the leading European providers of procurement management solutions. The company helps clients use the capabilities of third-party procurement and supply–chain platforms, including Jaggaer, Ivalua, and O9, and complements WNS’ existing offerings with platforms such as Coupa and Ariba. It also provides its clients with consulting, optimisation, outsourcing, and training services. Currently focused on the EMEA (Europe, Middle East, Africa) market, the company has about 90 employees. However, with the recent acquisition, WNS looks to expand these capabilities into the North American market as a significant opportunity. WNS’ chief Keshav R. Murugesh said that both companies possess capabilities that complement their existing procurement and analytics offerings. He said that The Smart Cube and OptiBuy would enhance their WNS-Denali (procurement) and WNS-Triange (analytics) solutions. WNS is one of the leading business process management (BPM) companies. With over 400 clients across various industries, the company offers a spectrum of BPM solutions, including research and analytics, industry-specific offerings, customer experience services, finance and accounting, human resources, and procurement. As of September 30, 2022, the company has about 57,503 employees working across 60 delivery centres globally, alongside facility centres in India, Sri Lanka, China, Canada, Costa Rica, the Philippines, Poland, Romania, South Africa, Spain, Turkey, the UK, and the US.
Earlier this month, The Smart Cube was certified as a Best Firm for Data Scientists by Analytics India Magazine.
Global business process outsourcing firm WNS announced that it acquired The Smart Cube and OptiBuy.
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