The transaction is anticipated to conclude by June 30, 2026.
The overall purchase consideration is estimated at up to $70.8 million, contingent upon customary closing adjustments in accordance with the agreement. This includes a deferred element in the form of an earnout, which will be disbursed based on the attainment of specific performance metrics.
This acquisition will grant Wipro access to vital clients, relevant customer contracts, and a proficient workforce.
It is projected to enhance Wipro’s artificial intelligence-driven and consulting-oriented application services capabilities, thereby fostering new growth prospects.
Established in 2001 and based in Santa Clara, California, the Alpha Net Group has operations in Singapore, India, the United Kingdom, and the Netherlands. The company specializes in enterprise software development, data engineering, and managed services for a worldwide client base.
The revenue from the specific customers whose contracts are being acquired was $27.9 million in the calendar year 2023, $34.4 million in the calendar year 2024, and $37.3 million in the calendar year 2025.
Shares of Wipro closed Monday’s trading session down 0.9% at ₹203. The stock has appreciated by 4% over the past month.
