Wipro Limited has entered into a definitive agreement to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries. The deal, valued at up to US$ 70.8 million, is expected to be completed by June 30, 2026. This strategic move is designed to bolster Wipro’s artificial intelligence-powered application services and expand its reach through the addition of key global clientele and a new, experienced workforce.
Strategic Expansion of Capabilities
By acquiring these select customer contracts, Wipro aims to significantly enhance its AI-powered and Consulting-led application services. The integration of the existing workforce associated with these contracts will provide Wipro with immediate access to key global customers, fostering new growth opportunities in the evolving technology landscape.
Financial and Operational Details
The transaction, which represents a business acquisition rather than the purchase of an entire entity, is valued at a maximum of US$ 70.8 million. The total cost is subject to standard closing adjustments and includes a deferred earnout component contingent on meeting specific performance metrics. The deal is slated for completion by June 30, 2026.
Target Entity Performance
Alpha Net Group, founded in 2001, is headquartered in Santa Clara, California, with a global presence spanning Singapore, India, the UK, and the Netherlands. The company specializes in enterprise software development and data engineering. The select contracts acquired by Wipro have shown consistent historical revenue growth, reporting USD 27.9 million in CY23, USD 34.4 million in CY24, and USD 37.3 million in CY25.
Source: BSE
