M&A
Wipro acquires addl 20% stake in insurtech co. Aggne Global for $28.5 M
Publicly listed IT services firm Wipro, via its step-down subsidiary Wipro IT Services, has acquired an additional 20% stake in Tampa, FL (USA), and Hyderabad-based Aggne Global for USD 28.5 million. Upon completion, Wipro will hold an 80% stake in the firm.Founded in 2019, Aggne provides technology, consulting, and digital transformation services to the property and casualty insurance industry. The company operates as an insurtech firm, using artificial intelligence and intellectual property-driven services to assist insurers in transforming operations and enhancing customer experiences.
In Feb 2024, Wipro acquired a 60% stake in Aggne for $66 M.
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