PriyaPatel
TLDR:
- Wipro has acquired Aggne for $66 million to strengthen its capabilities in the insurance sector.
- Aggne brings a unique set of capabilities and intellectual property in the property & casualty insurance space.
Indian IT major Wipro has acquired Aggne, a consulting and managed services company serving the insurance and insurtech industries, for $66 million. With this acquisition, Wipro becomes the majority shareholder in Aggne, with the option to purchase the remaining stake in the future. Aggne brings a unique set of capabilities and intellectual property in the property & casualty insurance space, which will enhance Wipro’s ability to deliver value and differentiated services to clients in the P&C sector.
Aggne offers services such as IP-led consulting, implementation, and managed services with a strong focus on the Duck Creek platform, a suite of cloud-based products for P&C insurers. Wipro’s deep relationships and global scale, combined with Aggne’s expertise and modular approach, will drive synergies and new growth opportunities in the insurance sector. The acquisition will also allow Aggne to reach a larger and more global set of clients and expand its capabilities.
Founded in 2019, Aggne is based in Bengaluru, India, and has offices in Tampa, Florida. The company has 230 employees and is incorporated in the US and India. This acquisition reflects Wipro’s commitment to strengthening its capabilities in the insurance sector and leveraging new technologies to drive innovation and customer satisfaction.
