Mumbai, June 1 -- Wipro announced that Wipro IT Services, LLC (stepdown subsidiary) will acquire an additional 20% stake in Aggne Global Inc. for a cash consideration of USD 28.5 million. The said transaction is expected to be completed by 05 June 2026.

In February 2024, Wipro and Wipro IT Services, LLC acquired 60% stake in Aggne Global IT Services and Aggne Global Inc., respectively.

This additional stake purchase in Aggne will further strengthen Wipro's competitive advantage in the insurance sector-particularly in driving AI, and IP led transformations for the Property & Casualty Insurance (P&C) sector. With this, Wipro IT Services, LLC's shareholding in Aggne Global Inc., will increase to 80%.

Aggne Group is a fast-growing Insurtec...