Wipro Ltd. on Wednesday announced it will acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries, together referred to as Alpha Net Group, for $70.8 million or around Rs 660 crore.
The business acquisition will enable Wipro's access to certain key clientele, their customer contracts as well as the related workforce, which will augment the company's existing AI-powered, and consulting-led application services capabilities, thus helping drive new growth opportunities, a stock exchange filing said.
The transaction includes a deferred consideration in the form of earnout, payable subject to achievement of certain performance metrics and conditions. The deal is expected to be completed by June 30, 2026.
Alpha Net Group was founded in 2001 and is headquartered in Santa Clara, California, 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.
The group's revenue from the select customers whose contracts have been acquired by Wipro for the year ended Dec. 31, 2025 was $37.3 million, and $34.4 million in calendar year 2024.
Last week, Wipro announced the acquisition of Singapore-based IT services company Mindsprint for $375 million or around Rs 3,495 crore. The deal is part of a broader agreement signed with Olam Group — an eight-year deal with a final contract value that could exceed $1 billion.
Olam, which is also headquartered in Singapore, is a leading food and agri business with a market value of over $50 billion. The company is majority owned by Temasek Holding.
Wipro is expected to report modest sequential growth in the March quarter, with margins seen improving on currency support and the absence of certain prior-quarter costs, even as underlying demand remains uneven. The board is scheduled to consider and approve Q4 results on April 16.
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