Wipro to Acquire Select Alpha Net Consulting Contracts for up to $70.8 Million

Wipro Limited on Tuesday announced that it has signed a definitive agreement to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries for a , via a regulatory disclosure.

Wipro will acquire the business assets for a cash consideration of up to $70.8 million. The official filing stated this sum remains subject to customary closing adjustments governed by the terms of the purchase agreement. Wipro noted the purchase consideration includes a deferred payment structured as an earnout, which is payable subject to the achievement of certain performance metrics and conditions.

Detailing the acquisition objectives and operational impact, Wipro reported the business acquisition will enable access to certain key clientele, their customer contracts, and the related workforce. The regulatory filing added this integration will augment Wipro’s existing AI-powered and consulting-led application services capabilities, thus helping drive new growth opportunities.

The exchange filing clarified the acquisition does not fall within related party transactions, and neither the promoter, promoter group, nor group companies hold any interest in the entity being acquired. Because the transaction constitutes a business acquisition rather than an entity acquisition, percentage shareholding transfer details do not apply to the transaction. 

An overview of the target entity in the disclosure indicates Alpha Net Group operates within the information technology services industry. Founded in 2001, the entity is headquartered in Santa Clara, California, USA, maintaining an additional operational presence across Singapore, India, the UK, and the Netherlands. Wipro reported the target group provides enterprise software development, data engineering, and managed services for a global clientele in an AI-first world.