Wipro to Buy Alpha Net Customer Contracts in $70.8 Million AI Services Push
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Wipro ( (WIT) ) has issued an update.
On April 14, 2026, Wipro, through its subsidiaries, signed a definitive agreement to acquire select customer contracts and associated workforce from Alpha Net Consulting LLC and its subsidiaries, an IT services provider headquartered in Santa Clara, California. The transaction, structured as a business acquisition rather than an equity purchase, carries a cash consideration of up to $70.8 million including an earnout, and is expected to close by June 30, 2026, with no regulatory approvals required.
The acquired contracts relate to global clients generating $27.9 million, $34.4 million, and $37.3 million in revenue in calendar years 2023, 2024, and 2025 respectively, and span enterprise software development, data engineering, and managed services. Wipro said the deal will give it access to key clientele and talent and strengthen its AI-powered, consulting-led application services capabilities, reinforcing its competitive position and growth prospects in higher-value digital and AI-first services.
The most recent analyst rating on (WIT) stock is a Hold with a $2.20 price target. To see the full list of analyst forecasts on Wipro stock, see the WIT Stock Forecast page.
Spark’s Take on WIT Stock
According to Spark, TipRanks’ AI Analyst, WIT is a Neutral.
The score is driven primarily by solid financial strength (low leverage and strong free cash flow). It is tempered by cautious near-term revenue guidance and mixed earnings-call signals, plus weak technical trend positioning versus longer-term moving averages; valuation is supported by a high dividend yield but not clearly cheap on P/E.
To see Spark’s full report on WIT stock, click here.
More about Wipro
Wipro Limited is a global information technology services company based in Bengaluru, India, providing consulting, application development, data and cloud services, and managed IT solutions to enterprises worldwide. Listed in India and on the NYSE, it focuses on AI-powered, consulting-led technology services for large global clients across multiple sectors.
Average Trading Volume: 12,973,418
Technical Sentiment Signal: Sell
Current Market Cap: $23.55B
See more insights into WIT stock on TipRanks’ Stock Analysis page.
