Indian IT services firm Wipro said in a regulatory filing that it will acquire an additional 20% stake in Aggne Global Inc, an insurtech firm serving insurers, for US$28.5 million through its step-down subsidiary Wipro IT Services LLC.

The purchase will raise Wipro’s shareholding in Aggne Global to 80%, and the deal is expected to close by June 5, 2026.

Wipro acquired a 60% stake in Aggne Global IT Services Private Limited and Aggne Global Inc. in February 2024 in a deal reportedly worth US$66 million.

Aggne Group reported annual turnover of US$27.5 million for the year ended March 31, 2026.

Aggne provides intellectual property-led consulting, implementation, and managed services for the insurance and insurtech sectors, especially in property and casualty insurance, including work on the Duck Creek platform.

Wipro said its 2024 investment was meant to strengthen its insurance capabilities.

The company added that the latest purchase would support AI- and intellectual property-led transformation services in property and casualty insurance.

The filing did not say whether the additional stake was part of a pre-agreed option or tranche.

🔗 Source: The Economic Times

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