Wipro Limited has informed the Exchange to please refer the letter dated February 15, 2024, wherein it was informed that Wipro Limited and Wipro IT Services, LLC (step-down subsidiary) had acquired 60% stake in Aggne Global IT Services Private Limited and Aggne Global Inc., respectively and that the said transaction was completed on February 14, 2024.In continuation to the aforesaid letter, it is hereby informed that Wipro IT Services, LLC (step-down subsidiary) will acquire an additional 20% stake in Aggne Global Inc. The said transaction is expected to be completed by June 5, 2026.
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Wipro Limited, through its step-down subsidiary Wipro IT Services, LLC, will acquire an additional 20% stake in Aggne Global Inc., raising its holding from 60% to 80%. This is a follow-up to the earlier transaction completed on February 14, 2024, when Wipro first picked up the initial 60% stake in both Aggne Global IT Services Private Limited and Aggne Global Inc. The additional acquisition is expected to be completed by June 5, 2026. Financial terms of the deal have not been disclosed in this announcement.
The move signals Wipro's continued commitment to the Aggne Global business and gives it greater operational control by increasing its ownership to 80%. For shareholders, this reinforces management's confidence in the acquired entity's growth potential, though the long timeline (over two years) suggests a phased strategic build-out rather than an immediate earnings driver.