Key facts
- Wipro will acquire an additional 20% stake in Aggne Global Inc.
- The acquisition cost is $28.5 million.
- Wipro's ownership in Aggne Global will increase to 80%.
- The deal aims to enhance Wipro's position in the insurance sector.
- The transaction is expected to be completed by June 5.
Wipro's strategic acquisition of a larger stake in Aggne Global signifies a move to deepen its capabilities and market presence within the insurtech sector. By increasing its ownership, Wipro aims to leverage Aggne's expertise, particularly in AI-driven solutions, to better serve the property and casualty (P&C) insurance market. This expansion is part of Wipro's broader strategy to enhance its offerings in specialized technology solutions for key industries.