Wipro to acquire Alpha Net Consulting for up to USD 70.8 million
The deal subjects to customary closing adjustments as per terms of the purchase agreement
Wipro Limited, through its subsidiaries, has signed a definitive agreement on Wednesday, to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries.
According to the exchange filings, the acquisition will enable Wipro’s access to certain key clientele, their customer contracts as well as the related workforce, which will augment Wipro’s existing AI-powered, and consulting-led application services capabilities, thus helping drive new growth opportunities.
The deal entails as cash purchase consideration of up to USD 70.8 million, subject to customary closing adjustments as per terms of the purchase agreement.
The purchase consideration includes a deferred consideration in the form of earnout, payable subject to achievement of certain performance metrics/conditions, it added.
The transaction is expected to be completed by June 30, 2026, as per the filings.
Wipro is acquiring certain customer contracts from the Alpha Net Group, which was founded in 2001 and is headquartered in Santa Clara, California, USA with additional presence in Singapore, India, UK, and Netherlands.
The Alpha Net Group provides enterprise software development, data engineering, and managed services for global clientele in an AI-first world.
Alpha Net Group’s revenue from the selected customers whose contracts have been acquired by Wipro, for the last 3 completed years (for the period ended 31 December) are USD 27.9 million, USD 34.4 million and USD 37.3 million.
