Azim Premji Backed IT Giant to Acquire Select Customer Contracts of Alpha Net Group for Up to USD 70.8 Million to Strengthen AI-first Capabilities; Stock Gains Over 2.5%
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Wipro Ltd to acquire select Alpha Net Group contracts for up to USD 70.8 million to strengthen AI-first capabilities. Stock rises over 2.5 per cent.
✨ AI Powered Summary
Wipro Ltd has entered into a definitive agreement to acquire select customer contracts from Alpha Net Consulting LLC and its subsidiaries, collectively referred to as Alpha Net Group. The agreement was signed on April 14, 2026. As part of the transaction, Wipro Ltd will invest up to USD 70.8 million to strengthen its AI-first, consulting-led application services capabilities.
The move is expected to improve Wipro Ltd’s access to key clients, customer contracts and the related workforce. It will also support the company’s existing AI-powered and consulting-led application services capabilities.
The move is expected to improve Wipro Ltd’s access to key clients, customer contracts and the related workforce. It will also support the company’s existing AI-powered and consulting-led application services capabilities.
The transaction is expected to close by June 30, 2026, subject to customary closing conditions. The total purchase consideration stands at up to USD 70.8 million, including a deferred component structured as an earnout, payable on the achievement of agreed performance targets.
About Wipro Ltd
Wipro Ltd is an Indian multinational technology company headquartered in Bengaluru. It is one of India’s Big Six IT services firms. The Company provides information technology, consulting and business process services to global clients across sectors such as Banking, manufacturing, retail, healthcare and telecom.
About Alpha Net Consulting LLC
Alpha Net Consulting LLC, part of Alpha Net Group, was founded in 2001 and is headquartered in Santa Clara, California, USA. The Company provides enterprise software development, data engineering and managed services to global clients. Its work focuses on supporting businesses adopting AI-led solutions. The Group also has a presence in Singapore, India, the UK and the Netherlands.
Wipro Ltd share price
On Wednesday, at 09:47 AM, Wipro Ltd shares were trading at Rs 208.04, up Rs 5.07 or 2.5 per cent from the previous close of Rs 202.97.
The share price has gained around 5.30 per cent in the last month and declined 14.73 per cent over the last year. Year-to-date, the stock is down 22.17 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.