Wipro Limited has signed a definitive agreement to acquire select customer contracts from Alpha Net Consulting LLC for up to $70.8 million, expected to close by June 30, 2026, to augment its AI-powered and consulting-led application services capabilities.
Key takeaways
Wipro signed a definitive agreement on April 14, 2026 to acquire select customer contracts from Alpha Net Consulting LLC and its subsidiaries.
The total purchase consideration is up to US$70.8 million, payable in cash and subject to customary closing adjustments.
The transaction includes a deferred earnout consideration contingent on achieving certain performance metrics.
The acquisition is expected to be completed by June 30, 2026, with no government or regulatory approvals required.
The acquired customer contracts generated revenues of USD 37.3 million in CY25, USD 34.4 million in CY24, and USD 27.9 million in CY23.
The acquisition will provide Wipro access to key clientele and related workforce to augment its AI-powered and consulting-led application services capabilities.