The purchase consideration includes a deferred consideration in the form of earnout, payable subject to achievement of certain performance metrics / conditions, the company said in a stock exchange filing.
Alpha Net Group, which was founded in 2001 and is headquartered in Santa Clara, California, USA 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, it added.
The business acquisition will enable Wipro’s access to certain key clientele, their customer contracts as well as the related workforce, which will augment Wipro’s existing AI-powered and consulting-led application services capabilities, thus helping drive new growth opportunities, the company said.
The transaction is expected to be completed by 30 June 2026.
Alpha Net Group’s revenue from the select customers whose contracts have been acquired by Wipro for the last 3 completed years (for the period ended 31 December) is as follows: USD 27.9 million in calendar year 2023, USD 34.4 million in calendar year 2024 and USD 37.3 million in calendar year 2025.
