Wipro Ltd, India's fourth-largest IT services company, announced its acquisition of select contracts from Alpha Net Group, a California-based IT firm, for $71 million. This acquisition is part of Wipro's strategy to enhance its AI-powered and consulting-led application services, particularly in the hi-tech and consumer verticals, which account for 16% and 18.2% of its revenue, respectively. The contracts from Alpha Net generated $37.3 million in revenue last year and are expected to contribute to Wipro's total annual revenue by $173.3 million. This acquisition follows Wipro's recent purchase of Mindsprint, the IT arm of Singapore's Olam Group, for $375 million, bringing Wipro's total acquisition spending in the first month of the fiscal year to $446 million. Despite these acquisitions, Wipro faces potential revenue decline due to macroeconomic uncertainties, including the impact of the West Asia war on IT spending. Analysts believe that while these acquisitions may help repair Wipro's momentum, the company must focus on converting these assets into scalable, AI-enabled offerings. Wipro's shares rose by 3% following the announcement, reflecting investor optimism about the company's strategic direction.