Wipro has revised the timeline for its acquisition of select customer contracts from Alpha Net Consulting LLC and its subsidiaries. According to an exchange filing, the transaction that was earlier expected to close by June 30, 2026, is now anticipated to be completed on or before September 30, 2026. The company announced this delay in a post-market hours filing on Tuesday, with shares expected to remain in focus on Wednesday, June 24, 2026.
As reported by Wipro, the company will acquire select customer contracts of Alpha Net Consulting at a purchase consideration of up to $70.8 million. The deal involves a cash purchase consideration subject to closing adjustments, which includes a deferred consideration in the form of an earnout, payable subject to the achievement of certain performance metrics and conditions. The 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.
Alpha Net Group, founded in 2001 and headquartered in Santa Clara, California, provides enterprise software development, data engineering, and managed services for global clientele in an AI-first world. The company has presence in Singapore, India, the UK, and the Netherlands. According to Wipro's filing, the revenue from the select customers whose contracts have been acquired by Wipro for the last three completed years (period ended December 31) was $27.9 million in 2023, $34.4 million in 2024, and $37.3 million in 2025.
Separately, Wipro 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. As reported by Wipro, this partnership brings together Palo Alto Networks' Cortex XSIAM with CyberShieldSM, Wipro's managed security services capabilities in a more focused offering for modern security operations. The new offering will deliver proactive cyber defense with simplified workflows using machine learning, AI, and automation to predict and protect against future attacks.
