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Wipro to buy 20% stake more in Aggne Global for $2 million
Synopsis
Wipro is set to acquire a further 20% stake in Aggne Global IT Services Private Limited. This move will boost Wipro's ownership in Aggne Global IT to 80%. The transaction is valued at $2.1 million. This acquisition aims to strengthen Wipro's position in the insurance sector, particularly in AI and IP-driven transformations for Property & Casualty Insurance.
IT services major Wipro on Thursday said it will acquire an additional 20% stake in Aggne Global IT Services Private Limited for $2.1 million (about Rs 19.8 crore).
Following the latest transaction, Wipro's overall shareholding in Aggne Global IT will increase to 80%, the company said in a regulatory filing.
The cash transaction is expected to be completed by June 30, 2026. This follows the company's announcement earlier this month regarding the acquisition of 20% additional stake in the US-based affiliate, Aggne Global Inc, for $28.5 million.
In February 2024, Wipro had acquired 60% stake in both Aggne Global IT Services and Aggne Global Inc.
"This additional stake purchase in Aggne will further strengthen Wipro's competitive advantage in the insurance sector-particularly in driving AI and IP-led transformations for the Property & Casualty Insurance (P&C) sector," Wipro said.
Aggne Group offers a range of AI and IP-driven services designed to help insurers transform operations and improve customer experiences.
The group reported an annual turnover of $27.5 million for financial year ended March 31, 2026.
Following the latest transaction, Wipro's overall shareholding in Aggne Global IT will increase to 80%, the company said in a regulatory filing.
The cash transaction is expected to be completed by June 30, 2026. This follows the company's announcement earlier this month regarding the acquisition of 20% additional stake in the US-based affiliate, Aggne Global Inc, for $28.5 million.
In February 2024, Wipro had acquired 60% stake in both Aggne Global IT Services and Aggne Global Inc.
"This additional stake purchase in Aggne will further strengthen Wipro's competitive advantage in the insurance sector-particularly in driving AI and IP-led transformations for the Property & Casualty Insurance (P&C) sector," Wipro said.
Aggne Group offers a range of AI and IP-driven services designed to help insurers transform operations and improve customer experiences.
The group reported an annual turnover of $27.5 million for financial year ended March 31, 2026.
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