Deal Corner
February 29, 2024
NDA Represents Founders of Aggne Global in Significant Investment by Wipro

DEAL BRIEF

Wipro Limited and its affiliate (collectively, “Wipro”) has made a significant investment in Aggne Global, Inc. and its affiliate Aggne Global IT Services Private Limited (collectively, “Aggne”), a leading consulting and managed services company serving insurance and Insurtech industries. Wipro acquired 60% of Aggne from founders, with an option to purchase the remaining stake over a period of time.

OUR ROLE

We at Nishith Desai Associates, acted as the legal counsel to Aggne and its founders. We advised them on the legal, regulatory and tax aspects of the transaction, along with other advisors.

OUR CLIENT

Aggne offers a wide range of services designed to help insurers transform operations, drive new efficiencies, and deliver optimal customer experiences. The services include Intellectual Property-led consulting, implementation, cloud, DevOps automation and managed services with a strong focus on the Duck Creek platform (Duck Creek is a full suite of cloud-based, low-code products that help property and casualty insurers accelerate product development and drive ongoing innovation). Aggne is privately owned and has a workforce of over 230 employees.

DEAL TEAM

Vaibhav Parikh

Parul Jain

Chandrashekar K

Muqeet Drabu

Ipsita Agarwalla

RELEVANT LINKS

Press Release, Wipro Limited, February 13, 2024, available at: https://nsearchives.nseindia.com/corporate/WIPRO_13022024170039_PressRelease.pdf

Hindu Businessline, February 13, 2024, available at: https://www.thehindubusinessline.com/info-tech/wipro-acquires-aggne-for-66-million-to-strengthen-capabilities-in-insurance-sector/article67841819.ece

Business Standard, February 13, 2024, available at: https://www.business-standard.com/companies/news/wipro-acquires-aggne-for-66-mn-to-boost-capabilities-in-insurance-sector-124021301280_1.html

 

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

We expressly clarify that this communication is not a solicitation or an invitation of any sort whatsoever from Nishith Desai Associates or any of its members to create an attorney-client relationship. This communication is not intended to be a source of advertising and the recipient should always seek the advice of competent counsel licensed to practice in the recipient's country/state.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

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Deal Corner

February 29, 2024

NDA Represents Founders of Aggne Global in Significant Investment by Wipro

DEAL BRIEF

Wipro Limited and its affiliate (collectively, “Wipro”) has made a significant investment in Aggne Global, Inc. and its affiliate Aggne Global IT Services Private Limited (collectively, “Aggne”), a leading consulting and managed services company serving insurance and Insurtech industries. Wipro acquired 60% of Aggne from founders, with an option to purchase the remaining stake over a period of time.

OUR ROLE

We at Nishith Desai Associates, acted as the legal counsel to Aggne and its founders. We advised them on the legal, regulatory and tax aspects of the transaction, along with other advisors.

OUR CLIENT

Aggne offers a wide range of services designed to help insurers transform operations, drive new efficiencies, and deliver optimal customer experiences. The services include Intellectual Property-led consulting, implementation, cloud, DevOps automation and managed services with a strong focus on the Duck Creek platform (Duck Creek is a full suite of cloud-based, low-code products that help property and casualty insurers accelerate product development and drive ongoing innovation). Aggne is privately owned and has a workforce of over 230 employees.

DEAL TEAM

Vaibhav Parikh

Parul Jain

Chandrashekar K

Muqeet Drabu

Ipsita Agarwalla

RELEVANT LINKS

Press Release, Wipro Limited, February 13, 2024, available at: https://nsearchives.nseindia.com/corporate/WIPRO_13022024170039_PressRelease.pdf

Hindu Businessline, February 13, 2024, available at: https://www.thehindubusinessline.com/info-tech/wipro-acquires-aggne-for-66-million-to-strengthen-capabilities-in-insurance-sector/article67841819.ece

Business Standard, February 13, 2024, available at: https://www.business-standard.com/companies/news/wipro-acquires-aggne-for-66-mn-to-boost-capabilities-in-insurance-sector-124021301280_1.html

 

Disclaimer

We expressly clarify that this communication is not a solicitation or an invitation of any sort whatsoever from Nishith Desai Associates or any of its members to create an attorney-client relationship. This communication is not intended to be a source of advertising and the recipient should always seek the advice of competent counsel licensed to practice in the recipient's country/state.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
conferences and seminars.