Wipro Signs Agreement to Acquire Alpha Net Customer Contracts for $70.8 Million
Mumbai, April 15, 2026: Wipro Limited has announced that it has signed a definitive agreement to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries (collectively referred to as Alpha Net Group). The disclosure was made to BSE Limited, National Stock Exchange of India Limited, and the New York Stock Exchange.
Strategic Business Acquisition
The transaction involves the acquisition of select customer contracts, not an entity purchase. The move aims to enhance Wipro’s consulting-led and AI-powered application services portfolio.
Key highlights of the deal:
- Purchase consideration: Up to USD 70.8 million, including deferred earnout linked to performance metrics.
- Mode of payment: Cash
- Expected completion: By June 30, 2026
- Regulatory approvals: Not required
Strengthening AI and Consulting Capabilities
Wipro stated that the acquisition will provide:
- Access to key global clients
- Transfer of related workforce
- Expansion of AI-driven consulting and application services
- New growth opportunities in strategic markets
The Alpha Net Group operates in enterprise software development, data engineering, and managed services, serving clients across the US, Singapore, India, the UK, and the Netherlands.
Revenue from Acquired Customer Contracts
Revenue generated by the acquired customer contracts over the past three years:
- CY2023: USD 27.9 million
- CY2024: USD 34.4 million
- CY2025: USD 37.3 million
The steady growth highlights the strategic value of the customer portfolio being acquired.
Industry Impact
The acquisition reflects Wipro’s continued push to expand its AI-first strategy and strengthen its global IT services presence through targeted business acquisitions.