Wipro Buys Alpha Net Contracts to Build AI

Wipro Ltd, India’s fourth-largest software services exporter, has said it will acquire select customer contracts from California-based Alpha Net Consulting LLC and its subsidiaries for up to $70.8 million in cash, as it looks to strengthen its AI-led application services business.

The transaction, structured as an all-cash deal with performance-linked components, is subject to customary closing conditions and is expected to be completed by 30 June, the Bengaluru-headquartered company said in a regulatory filing.

The acquisition will provide Wipro access to Alpha Net’s customers, associated contracts and a skilled workforce, helping expand its consulting-led and AI-powered application services capabilities and supporting new growth opportunities.

Revenue from the contracts being acquired totaled $27.9 million in calendar year 2023, $34.4 million in 2024, and $37.3 million in 2025, according to the filing.

Founded in 2001 and headquartered in Santa Clara, California, Alpha Net provides enterprise software development, data engineering and managed services to global clients. The company also has operations in Singapore, India, the United Kingdom and the Netherlands.

Wipro said the acquisition aligns with its broader strategy to deepen domain expertise and scale its digital and artificial intelligence offerings as enterprises accelerate technology modernization. The deal is expected to enhance Wipro’s ability to deliver end-to-end transformation programs for clients across industries.

The move comes amid increasing consolidation in the global IT services sector, as companies pursue targeted acquisitions to strengthen capabilities in high-growth areas such as artificial intelligence, cloud computing and data engineering.