Wipro (NYSE: WIT) inks $70.8M deal for Alpha Net customer contracts
Rhea-AI Filing Summary
Wipro Limited has signed a definitive agreement to acquire select customer contracts and related workforce of Alpha Net Consulting LLC and its subsidiaries for a cash purchase consideration of up to US$ 70.8 million, including deferred earnout payments tied to performance conditions.
The transaction, structured as a business acquisition rather than a share purchase, targets Information Technology services clients and is expected to close by June 30, 2026 with no government or regulatory approvals required. The acquired contracts generated revenues of USD 27.9 million in 2023, USD 34.4 million in 2024, and USD 37.3 million in 2025, and are intended to strengthen Wipro’s AI-powered, consulting-led application services capabilities across multiple global locations.
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Insights
Wipro is buying Alpha Net customer contracts to deepen AI-led application services.
Wipro is pursuing a targeted business acquisition, paying up to US$ 70.8 million in cash, including an earnout, for select customer contracts and related workforce from Alpha Net Group. This focuses on revenue-generating relationships rather than full entity control.
The acquired business serves enterprise software development, data engineering, and managed services clients in an AI-first environment, with revenues rising from USD 27.9 million in 2023 to USD 37.3 million in 2025. The company states the deal should augment its AI-powered, consulting-led application services.
The agreement requires no government or regulatory approvals and is expected to close by June 30, 2026. Actual benefits will depend on integration of the transferred workforce, client retention under the new contracts, and achievement of performance metrics that trigger the deferred earnout consideration.
Key Figures
Key Terms
business acquisition financial
deferred consideration financial
earnout financial
Information Technology services financial
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of April 2026
Commission File Number 001-16139
Wipro Limited
(Translation of Registrant’s name into English)
Doddakannelli
Sarjapur Road
Bengaluru, Karnataka 560035, India +91-80-2844-0011
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
DISCLOSURE OF ACQUISITION
Wipro Limited, a company organized under the laws of the Republic of India (the “Company”), hereby furnishes the Commission with the following information relating to the acquisition by the Company of select customer contractors of Alpha Net Consulting LLC and its subsidiaries (together, “Alpha Net”). The following information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On April 15, 2026, the Company informed the securities exchanges in India on which its securities are listed and the New York Stock Exchange (together, the “Exchanges”) that the Company has signed a definitive agreement with Alpha Net to acquire certain customer contracts of Alpha Net on April 14, 2026. A copy of the letter to the Exchanges is attached hereto as Item 99.1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| WIPRO LIMITED |
| /s/ M. Sanaulla Khan |
| M. Sanaulla Khan |
| Senior Vice President and Company Secretary |
Dated: April 21, 2026
INDEX TO EXHIBITS
| Item | ||
| 99.1 | Letter to the Exchanges dated April 15, 2026. | |
Exhibit 99.1
April 15, 2026
The Manager - Listing
BSE Limited
(BSE: 507685)
The Manager - Listing
National Stock Exchange of India Limited
(NSE: WIPRO)
The Market Operations,
NYSE, New York
(NYSE: WIT)
Dear Sir/Madam,
Sub: Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and para 202.05 read with para 202.06 of the NYSE Listed Company Manual, it is hereby informed that Wipro Limited, through its subsidiaries, has signed a definitive agreement on April 14, 2026 to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries.
Details as required under SEBI Master Circular for Compliance with the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with relevant Circulars issued by NSE and BSE, as amended from time to time are provided in Annexure-1.
This is for your information and records.
Thanking you.
For Wipro Limited
/s/ M Sanaulla Khan
M Sanaulla Khan
Company Secretary
Annexure -1
Details as required under SEBI Master Circular for Compliance with the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with relevant Circulars issued by NSE and BSE, as amended from time to time:
| Sr. No. | Particulars |
Description | ||
| 1 | Name of the target entity | Acquisition of select customer contracts of Alpha Net Consulting LLC and its subsidiaries (together referred to as “Alpha Net Group”) | ||
| 2 | Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? | No | ||
| 3 | Industry of Target entity | Information Technology services | ||
| 4 | Acquisition objectives and Impact of acquisition | 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. | ||
| 5 | Government or regulatory approval required | None | ||
| 6 | Indicative time period for completion of acquisition | The transaction is expected to be completed by June 30, 2026. | ||
| 7 | Nature of consideration | Cash | ||
| 8 | Cost of acquisition and / or the price at which the shares are acquired | Purchase consideration of up to US$ 70.8 Million, subject to customary closing adjustments as per terms of the purchase agreement. The purchase consideration includes a deferred consideration in the form of earnout, payable subject to achievement of certain performance metrics / conditions. | ||
| 9 | Percentage of shareholding acquired | Not applicable, as the transaction constitutes a business acquisition and not an entity acquisition. | ||
| 10 | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) | Wipro is acquiring certain customer contracts from the Alpha Net Group, which was founded in 2001 and is headquartered in Santa Clara, California, USA with additional presence in Singapore, India, UK, and Netherlands. The Alpha Net Group provides enterprise software development, data engineering, and managed services for global clientele in an AI-first world.
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): USD 27.9 Mn (CY23); USD 34.4 Mn (CY24); and USD 37.3 Mn (CY25). | ||