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Jeet Sarkar

Technology, Developm...ย โ€ขย 1y

Indian technology company Wipro will acquire insurtech firm Aggne Global Inc. and its Hyderabad-based affiliate Aggne Global IT Services for $66 million or around Rs 548 crore. Initially. The company will acquire a 60% stake in an all-cash deal, with an option to purchase the remaining stake over a period of time. According to reports, The transaction is expected to be completed at the latest by February 14, 2024. Aggne Global is an IT, consulting, and managed services company for the property & casualty insurance industry.

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I was actually wondering if investment from any investor also means he get gets a share from the profit of the company, Say, if an investor buys 20% stake of a company, does it mean he also will get 20% of the profits earned by the company?

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