Wipro Ltd announced on Monday that it will purchase an additional 20% stake in the US-based insurtech firm Aggne Global Inc in an all-cash deal valued at $28.5 million.
The transaction comes more than two years after India’s fourth-largest IT services provider acquired 60% stake in the insurtech firm in February 2024, then valued at $66 million. Wipro had then notified in stock exchange filings its intention to purchase the remaining stake over a period of time. With the additional purchase, its overall shareholding in Aggne Global will increase to 80%.
