Wipro Limited has signed a definitive agreement to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries for a purchase consideration of up to $70.8 million.
According to a BSE filing, the acquisition will enable Wipro to access key clientele and augment its existing AI-powered and Consulting-led application services capabilities. This move is expected to drive new growth opportunities for the company.
The acquisition objectives are to enhance Wipro’s capabilities in enterprise software development, data engineering, and managed services.
The Alpha Net Group, founded in 2001, has a presence in the USA, Singapore, India, UK, and Netherlands, and provides services to global clientele in an AI-first world. The acquired contracts have generated revenues of $27.9 million, $34.4 million, and $37.3 million in the last three completed years.
As part of the agreement, Wipro will acquire certain customer contracts from the Alpha Net Group, which will strengthen its position in the IT services sector.
The transaction is expected to be completed by June 30, 2026, and does not require any government or regulatory approvals. The purchase consideration includes a deferred consideration in the form of earnout, payable subject to the achievement of certain performance metrics.
The acquisition will add to Wipro’s existing capabilities and enable the company to drive growth in the IT services sector. With this move, Wipro reinforces its commitment to expanding its services portfolio and strengthening its position in the global market.
The company’s focus on AI-powered services and Consulting-led applications will continue to drive growth and innovation.
This acquisition reinforces Wipro’s position as a leading player in the IT services sector, with a strong focus on AI-powered services and Consulting-led applications.
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