M&A M&A
Wipro acquires 60% in insurance-focused consulting co Aggne for $66-M
Source BSE Disclosure (opens in a new tab)Press Release (opens in a new tab)
Publicly listed IT services firm Wipro has acquired a 60% stake in Tampa, FL (USA) and Hyderabad-based Aggne , a consulting and managed services company serving insurance and Insurtech industries, for USD 66 million.Aggne brings to Wipro capabilities and intellectual property (IP) in the property & casualty (P&C) insurance space.Founded in 2019, Aggne offers a range of services for the P&C insurance sector. The company has 230 employees based in India and the US. Aggne posted a revenue of USD 4.5 million in CY21, USD 9.1 million in CY22 and USD 17.9 million in CY23.