Wipro Ltd Signs Agreement to Acquire Customer Contracts from Alpha Net Group
Wipro Limited has announced that it has entered into a definitive agreement to acquire select customer contracts from Alpha Net Consulting LLC and its subsidiaries. The agreement was signed on April 14, 2026.The business acquisition involves the Alpha Net Group, which operates in the Information Technology services sector. Wipro aims to utilize this acquisition to strengthen its service offerings and tap into key market relationships.
According to the details provided, the strategic objective of the transaction is to enhance Wipro's capabilities. The acquisition is expected to provide access to key clientele, their associated customer contracts, and a related workforce. This move is set to augment Wipro's existing Consulting-led and AI-powered application services capabilities, thereby helping drive new growth opportunities.
Deal Structure and Scope
The total purchase consideration for the business acquisition is up to US$ 70.8 Million. This figure is subject to customary closing adjustments per the purchase agreement and includes a deferred consideration structured as an earnout, which will be payable based on the achievement of defined performance metrics or conditions.The transaction is defined as a business acquisition, meaning the percentage of shareholding acquired is not applicable.
Wipro projects that the acquisition will be completed by June 30, 2026. The consideration will be paid in cash.
Background on Alpha Net Group
The Alpha Net Group, comprising Alpha Net Consulting LLC and its subsidiaries, is an established provider of enterprise software development, data engineering, and managed services for global clientele in an AI-first world. The Group was founded in 2001 and is headquartered in Santa Clara, California, USA, with additional presences in Singapore, India, UK, and the Netherlands.The Group’s focus on customer contracts acquired by Wipro has shown consistent growth over the last three completed years.
| Fiscal Year | Revenue from Acquired Contracts (USD) |
|---|---|
| CY23 | 27.9 Mn |
| CY24 | 34.4 Mn |
| CY25 | 37.3 Mn |
WIPRO Stock Price Movement
Shares of Wipro Limited on Monday slipped by 0.94% to settle at ₹202.97. Trading saw substantial activity, with the stock handling a volume of 21.93 million shares during the session.Source:
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