Wipro Limited has announced plans to deepen its investment in Aggne Global Inc., a technology services company focused on the Property & Casualty (P&C) insurance industry. The transaction will be executed through Wipro IT Services, LLC, a step-down subsidiary of Wipro.
The proposed acquisition follows Wipro's initial purchase of a 60% stake in Aggne Global completed in February 2024.
Under the latest transaction, Wipro IT Services will purchase an additional 20% equity stake in Aggne Global Inc. for a consideration of $28.5 million, subject to customary closing adjustments. Once completed, Wipro's ownership in the company will rise from 60% to 80%.
The acquisition is expected to be completed on or before June 5, 2026.
According to Wipro, increasing its stake in Aggne Global will enhance its capabilities in the insurance technology segment, particularly in areas such as artificial intelligence-driven solutions and intellectual property-led transformation services for Property & Casualty insurers.
Aggne Group provides consulting, managed services and technology solutions tailored for the insurance industry, helping clients improve operational efficiency and customer experience.
The company has recorded steady business growth over the past 3 financial years. Aggne Group reported revenue of $18.9 million in FY24, which increased to $24.2 million in FY25 and further rose to $27.5 million in FY26.
Wipro believes the increased ownership will strengthen its position in a specialised segment of the global insurance technology market.
Read More: Wipro Fixes June 5 as Record Date for ₹15,000 Crore Share Buyback!
As of 02 June 2026, at 10:35 AM, Wipro share price is trading at ₹208.65 per share, reflecting a gain of 1.09% from the previous closing price.
Wipro's decision to raise its stake in Aggne Global to 80% highlights its continued focus on expanding AI and insurance technology capabilities. The acquisition is expected to further strengthen the company's offerings for the global Property & Casualty insurance sector.
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Published on: Jun 2, 2026, 11:50 AM IST
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