Wipro to Acquire Additional 20% Stake in Aggne Global Inc, Raising Holding to 80%

Bengaluru: Wipro Limited has announced that its step-down subsidiary, Wipro IT Services LLC, will acquire an additional 20% stake in Aggne Global Inc, further deepening its presence in the insurance technology (Insurtech) space.

The transaction is expected to be completed by June 5, 2026, subject to customary closing conditions.

Deal Overview

Under the latest agreement:

• Wipro will acquire an additional 20% stake in Aggne Global Inc

• Post-acquisition, total holding will increase to 80%

• Purchase consideration: USD 28.5 million

• Mode of payment: Cash transaction

• Completion timeline: on or before June 5, 2026

The disclosure has been made in accordance with Regulation 30 of SEBI (LODR) Regulations, 2015 and shared with stock exchanges.

Stock Exchange Disclosure

The update has been submitted to:

• BSE Limited

• National Stock Exchange of India

• New York Stock Exchange

The company also highlighted continuity with its earlier acquisition made in February 2024, when it first acquired a 60% stake in the Aggne Group.

About Aggne Global Inc

Aggne Global Inc is part of the Aggne Group, which includes its affiliate Aggne Global IT Services Private Limited.

The company operates in the insurance technology (Insurtech) domain, delivering AI-driven and intellectual property-led solutions for the Property & Casualty (P&C) insurance industry.

Its services focus on:

• Digital transformation of insurance operations

• AI-enabled automation

• Process optimization for insurers

• Enhanced customer experience solutions

Financial Performance Snapshot

Aggne Group has demonstrated consistent revenue growth over the past three years:

• FY24: USD 18.9 million

• FY25: USD 24.2 million

• FY26: USD 27.5 million

This reflects steady expansion in demand for insurance technology solutions globally.

Strategic Rationale

The additional stake acquisition is aimed at strengthening Wipro’s position in the insurance technology space by:

• Expanding AI-driven transformation capabilities

• Enhancing proprietary IP-led solutions

• Deepening presence in the global P&C insurance market

• Driving long-term digital modernization for clients

About Wipro

Wipro Limited is a leading global information technology, consulting, and business process services company, serving clients across multiple industries including insurance, banking, healthcare, and manufacturing.