Wipro revises timeline for Alpha Net contract acquisition, targets September-end completion

Wipro shares are expected to be in focus on Wednesday, June 24, as the IT services company on Tuesday, post-market hours, said the completion of its acquisition of select customer contracts of Alpha Net Consulting LLC and its subsidiaries has been delayed.

The transaction, which was earlier expected to close by June 30, 2026, is now anticipated to be completed on or before September 30, 2026, the company said in an exchange filing.

The filing read, "Please refer to our letter dated April 15, 2026, informing that Wipro Limited, through its subsidiaries, had signed a definitive agreement on April 14, 2026, to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries and that the transaction was expected to be completed by June 30, 2026. In continuation of the aforesaid letter, it is hereby informed that the above transaction is now expected to be complete latest by September 30, 2026."

Wipro's announcement in April 2026

Wipro said it will acquire select customer contracts of Alpha Net Consulting at a purchase consideration of up to $70.8 million.

The business acquisition will enable Wipro's access to certain key clientele, their customer contracts as well as the related workforce, augmenting its existing AI-powered and consulting-led application services capabilities, and fuelling new growth opportunities.

"Wipro Limited, through its subsidiaries, signed a definitive agreement on April 14, 2026, to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries," the BSE filing said.

The deal involves cash purchase consideration of up to $70.8 million, subject to closing adjustments. This includes a deferred consideration in the form of an earnout, payable subject to the achievement of certain performance metrics and conditions.

"The transaction is expected to be completed by June 30, 2026," Wipro had said.

About Alpha Net Group

Alpha Net Group was founded in 2001 and is headquartered in Santa Clara, California, US, with additional presence in Singapore, India, the UK, and the Netherlands.

The Alpha Net Group provides enterprise software development, data engineering, and managed services for global clientele in an AI-first world.

Its revenue from the select customers whose contracts have been acquired by Wipro, for the last three completed years (period ended December 31), is $27.9 million (calendar year 2023), $34.4 million (2024), and $37.3 million (2025).

Other announcements

Separately, Wipro on Tuesday announced the expansion of its partnership with Palo Alto Networks, the global AI cybersecurity leader, to offer AI-driven Managed Detection and Response (MDR) services.

The new offering will deliver proactive cyber defense with simplified workflows using machine learning, AI, and automation to predict and protect against future attacks. It will enable faster detection and response across complex environments, while filtering signals from noise, improving analyst efficiency, and increasing focus on critical, high-impact threats.