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Wipro will acquire select customer contracts from Alpha Net for up to $70.8 million (around Rs 660 crore). The move targets faster expansion in artificial intelligence, data, and consulting services.
The acquisition of Alpha Net by Wipro is not a company-level purchase but only involves the purchase of specific customer agreements. Included in this deal would be the transfer of certain employees along with the operations involved in delivering these services.
The customer agreements in question accounted for $37 million in revenue in 2025. The deal includes several earn-outs that link the transaction value to future performance metrics. The anticipated completion date for this business combination is by June 30, 2026.
Wipro seeks to beef up its portfolio of AI-enabled services. In doing so, the acquisition enables it to gain the acquired firm’s competencies in application development, data engineering, and managed services. It eliminates the need for Wipro to develop these competencies organically, while shortening the time to market for its products and services.
Wipro will continue to make capability-focused acquisitions. The company aims to make smaller acquisitions that help bridge capability gaps, rather than larger acquisitions aimed at expansion.
Such an approach can ensure cost-effectiveness, reduced risks, and quick benefits from the acquisitions. The acquisition of Alpha Net is consistent with Wipro’s strategy of making such acquisitions to enhance its existing competencies in AI and consulting services.
Also Read: Wipro Shares Jumped After $1 Billion AI Deal with Olam Group
Wipro’s growth is facing headwinds because demand for its products and services is constrained as customers defer information technology investments. There is continued pressure on revenues in the IT services industry. The firm needs to grow its capability in high-growth segments such as AI.
