Amid three years of declining revenues, will Wipro’s latest $71 million contract acquisition turn the tide?

New Delhi: India’s fourth-largest IT firm, Wipro Ltd, is seeking to aggressively arrest an almost three-year streak of underwhelming revenue growth through acquisitions. The Bengaluru-based company has announced a deal to acquire select contracts from California-based Alpha Net Group for up to $71 million.

This move is seen as a tactical acquisition designed to boost the company’s consulting business, especially with the high-growth cloud transformation technologies enhanced with AI.

Acquiring reach, expertise 

These contracts had earlier fetched Apha Net $37.7 million in revenue in 2024, where it offered software development, data engineering, and managed services.

“The business acquisition will enable Wipro’s access to certain key clientele, their customer contracts as well as the related workforce, which will augment Wipro’s existing AI-powered and consulting-led application services capabilities, thus helping drive new growth opportunities,” the company said in a press release. 

This acquisition is expected to help Wirpo earn atleast $173.3 million in annual revenues, along with its other acquisition Mindsprint made earlier this fiscal. This could result in an incremental revenue equal to 1.65% of Wipro’s annual revenue of $10.5 billion.

The bid for inorganic growth

In August 2025, Wipro spent $375 million to acquire Harman’s Digital Transformation Services (DTS) unit from Samsung in a bid to bolster its engineering services. Despite that, the company hasn’t been able to arrest its revenue decline, lagging behind peers like TCS and Infosys. 

In 2025, the company’s revenues declined 3.2% to $10.43 billion, even as its attrition rate remained higher than its peers at 14.2% of its total workforce.

The company’s shares have declined by 15% over the past year, even though it has been working to boost its revenues and expand its base through acquisitions. The company is expected to declare its FY26 results soon, and all hopes are pinned on how the company aims to boost its downlines and resolves the challenges it has been facing so far.