SynopsisIT major Wipro will acquire an additional 20% stake in insurtech firm Aggne Global Inc. The deal is valued at $28.5 million. This acquisition will increase Wipro's total shareholding in Aggne Global to 80%. The transaction is expected to be completed by June 5, 2026.IT services major Wipro on Monday said it will acquire an additional 20% stake in insurtech firm Aggne Global Inc for $28.5 million (about Rs 271 crore).Following this transaction, Wipro's overall shareholding in Aggne Global will increase to 80 per cent, the company said in a regulatory filing to the stock exchanges.The cash transaction, which is being executed through Wipro's step-down subsidiary Wipro IT Services LLC, is expected to be completed by June 5, 2026.In February 2024, Wipro acquired a 60% stake in Aggne Global IT Services Private Limited and Aggne Global Inc."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," Wipro said.Aggne Group is an insurtech company that offers a range of AI and IP-driven services designed to help insurers transform operations and improve customer experiences.The group reported an annual turnover of $27.5 million for the financial year ended March 31, 2026. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now