Wipro Subsidiary Acquires 20% Stake in FLARRE.AI for USD 2,000

Wipro Limited, through its step-down subsidiary Wipro IT Services, LLC, has entered into a definitive agreement to acquire a 20% shareholding in FLARRE.AI, Inc. for USD 2,000. The acquisition aims to enhance Wipro's AI capabilities for the global insurance sector. FLARRE.AI, Inc. operates an agentic AI platform specifically designed for the insurance industry, assisting carriers in accelerating product launches, expansions, upgrades, and migrations. The transaction is expected to be completed by October 31, 2026. No government or regulatory approval is required, and the consideration is in cash. As FLARRE.AI, Inc. is recently incorporated, historical financial data is not available.