-- Wipro (NSE:WIPRO, BOM:507685), through its subsidiaries, has agreed to acquire select customer contracts of US-based enterprise software developer Alpha Net Consulting and its subsidiaries, for up to $70.8 million, according to a Wednesday filing to the Indian stock exchanges.
The acquisition will enable the Indian IT services company to access certain key clientele of Alpha Net, their customer contracts, as well as the related workforce. This will help Wipro's existing artificial intelligence-powered and consulting-led application services capabilities to secure new growth opportunities.
The transaction is expected to be completed by June 30.
The company's shares were up nearly 3% in recent trade.