Wipro Limited, through its subsidiaries, has signed a definitive agreement on April 14, 2026, to acquire select customer contracts of US-based Alpha Net Consulting LLC and its subsidiaries for a total consideration of up to $70.8 million.
Structured deal with performance-linked earnout
The total purchase consideration includes a deferred component in the form of an earnout, which will be payable subject to the achievement of specified performance metrics and conditions, the company said in a regulatory filing. Wipro clarified that the transaction is structured as a business acquisition rather than an entity acquisition.
Boost to AI-led consulting capabilities
The acquisition will provide Wipro access to key clientele, associated customer contracts, and the relevant workforce. This is expected to strengthen its AI-powered, consulting-led application services portfolio and unlock new growth opportunities.
The move is in line with Wipro’s broader strategy to deepen its presence in high-value, AI-driven transformation service
About Alpha Net Group
Founded in 2001 and headquartered in Santa Clara, California, Alpha Net Group has a global footprint spanning Singapore, India, the UK, and the Netherlands. The company provides enterprise software development, data engineering, and managed services to global clients in an increasingly AI-first environment.
Steady revenue growth from acquired contracts
The customer contracts being acquired have demonstrated consistent growth over the past three years, with revenues rising from $27.9 million in CY23 to $34.49 million in CY24 and further to $37.39 million in CY25.