Firm Reps Wipro in $66M Aggne Global Acquisition

March 1, 2024 - HHR advised Wipro in its $66 million acquisition of U.S.-based Aggne Global – a provider of optimization software to insurance companies – and its India-based affiliate Aggne Global IT Services.

In the all-cash deal, Wipro acquired 60 percent of the company, with an option to purchase the remaining stake over a period of time. Other terms of the deal, which closed on Feb. 14, were not disclosed.

“This acquisition of Aggne will strengthen Wipro's competitive advantage in the insurance sector—particularly in the property & casualty (P&C) insurance space. This combination will enhance Wipro's P&C core system implementation capabilities," Wipro said in a release to the exchanges. “Aggne's Swift IPs combined with Wipro's wider offerings will position us as an end-to-end player in the P&C insurance space."

Multiple news outlets reported on the acquisition, including Business Standard, Moneycontrol, The Economic Times, The Times of India and Yahoo Finance.

Founded in 1945, Wipro is India's fourth-largest information technology services firm. It provides cloud computing, computer security, artificial intelligence and other technology consulting services to customers in 167 countries.

Headquartered in Tampa, Aggne Global offers IT, consulting, and managed services for the property & casualty insurance industry. Its affiliate Aggne Global IT Services is based in Hyderabad, India.

The HHR team included Chuck Samuelson, Mark Schuber, Alan Kravitz, Justin Cohen, Sean Reilly, Sabrina Silverberg, Charlie Wachsstock, Dan Weiner, Rob Candella and Alexandra Hernandez.