Wipro Limited has informed the Exchange that Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and para 202.05 read with para 202.06 of the NYSE Listed Company Manual, that Wipro Limited, through its subsidiaries has signed a definitive agreement on April 14, 2026 to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries.
WIPRO · price
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Wipro Limited has signed a definitive agreement to acquire select customer contracts of Alpha Net Consulting LLC (Alpha Net Group) for up to US$ 70.8 million in cash. Alpha Net Group, founded in 2001 and headquartered in Santa Clara, California, provides enterprise software development, data engineering, and managed services with additional presence in Singapore, India, UK, and Netherlands. The acquired contracts generated revenues of USD 37.3 million in CY25, up from USD 27.9 million in CY23, showing consistent growth. The transaction, expected to close by June 30, 2026, will give Wipro access to key clientele and workforce to strengthen its AI-powered consulting and application services capabilities. No regulatory approvals are required and this is not a related party transaction.
Positive for Wipro as it gains incremental revenues, client relationships, and skilled workforce in the AI-first services space without requiring major regulatory clearances. The acquisition at ~1.9x CY25 revenue appears reasonable for an IT services deal.