SynopsisWipro is set to acquire a further 20% stake in Aggne Global IT Services Private Limited. This move will boost Wipro's ownership in Aggne Global IT to 80%. The transaction is valued at $2.1 million. This acquisition aims to strengthen Wipro's position in the insurance sector, particularly in AI and IP-driven transformations for Property & Casualty Insurance.IT services major Wipro on Thursday said it will acquire an additional 20% stake in Aggne Global IT Services Private Limited for $2.1 million (about Rs 19.8 crore).Following the latest transaction, Wipro's overall shareholding in Aggne Global IT will increase to 80%, the company said in a regulatory filing.The cash transaction is expected to be completed by June 30, 2026. This follows the company's announcement earlier this month regarding the acquisition of 20% additional stake in the US-based affiliate, Aggne Global Inc, for $28.5 million.In February 2024, Wipro had acquired 60% stake in both Aggne Global IT Services 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 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 financial year ended March 31, 2026. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now