IT major Wipro will increase its ownership in Aggne Global IT Services to 80% after acquiring an additional 20% stake for USD 2.1 million (around Rs 19.8 crore), strengthening its presence in the insurance technology segment, PTI reported.The IT services major said the transaction will be completed in cash and is expected to close by June 30, 2026.Following the acquisition, Wipro’s shareholding in Aggne Global IT Services will rise from 60% to 80%, according to a regulatory filing.The move comes weeks after Wipro announced the purchase of an additional 20% stake in US-based Aggne Global Inc for USD 28.5 million.In February 2024, Wipro had acquired a 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 provides a range of AI- and intellectual property-led solutions aimed at helping insurers modernise operations and improve customer experience.The group reported annual turnover of USD 27.5 million for the financial year ended March 31, 2026.
