Wipro Acquires Alpha Net Contracts for Up to $70.8 Million to Boost AI Services

Wipro Limited has signed a definitive agreement to acquire select customer contracts from Alpha Net Consulting LLC and its subsidiaries for up to $70.8 million in cash, with deferred earnout payments linked to performance milestones. The transaction, expected to close by June 30, 2026, requires no regulatory approvals. The acquisition targets Alpha Net's enterprise software development, data engineering, and managed services contracts — serving global clients in an AI-first ecosystem. Revenue from these specific contracts stood at $37.3 million in CY25, up from $27.9 million in CY23, reflecting steady growth. Strategically, the deal strengthens Wipro's AI-powered application services and consulting-led offerings, while expanding its client base and talent pool in key markets including the US, Singapore, and Europe. Alpha Net, founded in 2001 and headquartered in Santa Clara, brings specialized expertise that complements Wipro's digital transformation portfolio. This asset-focused acquisition (not an entity buyout) underscores Wipro's disciplined approach to inorganic growth — adding high-value contracts and capabilities without full integration overhead. It reinforces Wipro's commitment to scaling AI-led services amid intensifying competition in the global IT market.