Top-tier tech major, Wipro has announced that it will acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries (Alpha Net Group). Wipro, is set to fund the acquisition through cash.
According to Wipro’s statement to the exchanges, the acquisition will help it gain access to key clients, existing contracts, and related workforce. The move is expected to strengthen its AI-powered and consulting-led application services, opening up new growth opportunities.
Wipro to pay up to $70.8 million
The company expects to complete the transaction by June 30. It does not require any government or regulatory approvals.The total purchase consideration stands at up to $70.8 million, including a deferred component linked to performance-based earn outs.
Since the deal involves acquiring business contracts and not the entity itself, there will be no shareholding transfer.
About Alpha Net Group
Alpha Net Group, headquartered in Santa Clara, California, provides enterprise software development, data engineering, and managed services. It operates across key markets including Singapore, India, the UK, and the Netherlands.
The contracts being acquired generated revenues of $27.9 million in CY23, $34.4 million in CY24, and $37.3 million in CY25.
Wipro Q4FY26 preview
Wipro will release its Q4FY26 results tomorrow, April 15, after stock market trading hours in India. The company has not said anything about the dividend announcement.
“Wipro, a leading AI-powered technology services and consulting company, will announce results for the fourth quarter ended March 31, on Thursday, April 16, 2026, after stock market trading hours in India. The results will be available in the Investors section of the company’s website.” Wipro said in its BSE release.
Financialexpress.com will bring you a Live update and detailed analysis of Wipro’s results.
Wipro is also set to consider a share buyback proposal at its meeting on April 15–16, 2026. The decision will be announced after the meeting on April 16.
Wipro share price
The share price of Wipro has declined 24.06% so far this year. However, the stock has gained 4.16% in the past one month.