Wipro on Monday said it will acquire an additional 20 per cent stake in Aggne Global Inc. for $28.5 million, increasing its shareholding in the insurance technology specialist to 80 per cent.
In a regulatory filing, the company said the transaction, which is expected to close by June 5, 2026, will be carried out through its subsidiary Wipro IT Services, LLC. The purchase consideration of $28.5 million is attributable to Aggne Global Inc. and is subject to customary closing adjustments.
Aggne Group, which comprises Aggne Global Inc. and its affiliate Aggne Global IT Services Private Limited, provides information technology, consulting and managed services to the Property & Casualty (P&C) insurance industry.
Wipro said the additional stake acquisition would strengthen its position in the insurance sector, particularly in driving AI and IP-led transformation initiatives for P&C insurers.
“Aggne Group is a fast-growing Insurtech company offering a wide range of AI- and Intellectual Property-driven services designed to help insurers transform operations, drive new efficiencies, and deliver optimal customer experiences,” the company said in the filing.
Aggne has reported steady growth in recent years, with revenue rising from $18.9 million in FY24 to $24.2 million in FY25 and $27.5 million in FY26.
Wipro added that a separate disclosure would be made if it acquires any further stake in the company.
The company’s shares closed at ₹206.45 on Monday, up 1.10 per cent from the previous close.