NEW DELHI, Apr 15: IT services company Wipro will acquire select customer contracts of Alpha Net Consulting at a purchase consideration of up to USD 70.8 million, according to a regulatory filing on Wednesday.
The business acquisition will enable Wipro’s access to certain key clientele, their customer contracts as well as the related workforce, augmenting its existing AI-powered, and consulting-led application services capabilities, and fuelling new growth opportunities.
“Wipro Limited, through its subsidiaries, signed a definitive agreement on April 14, 2026 to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries,” the BSE filing said.
The deal involves cash purchase consideration of up to USD 70.8 million, subject to closing adjustments. This includes a deferred consideration in the form of earnout, payable subject to achievement of certain performance metrics and conditions.
The transaction is expected to be completed by June 30, 2026.
Alpha Net Group was founded in 2001 and is headquartered in Santa Clara, California, US with additional presence in Singapore, India, the UK, and the Netherlands.
The Alpha Net Group provides enterprise software development, data engineering, and managed services for global clientele in an AI-first world.
Its revenue from the select customers whose contracts have been acquired by Wipro, for the last 3 completed years (period ended December 31) is USD 27.9 million (calendar year 2023); USD 34.4 million (2024); and USD 37.3 million (2025). (PTI)
Follow our WhatsApp channel
