Indian IT services firm Wipro has secured an eight-year deal with Singapore-based food and agri-business conglomerate Olam Group, which is expected to exceed $1 billion in contract value. Wipro also said it will acquire Mindsprint, Olam Group’s IT and digital services business for about $375 million.
“Wipro has secured a multi-year strategic transformation deal with Olam Group, a leading $50+ Billion Food and Agri-business headquartered in Singapore, employing nearly 40,000 people, and majority-owned by Temasek Holdings. This 8-year deal with Olam Group is expected to exceed $1 billion in contract value, with a committed spend of $800 million. As part of this broader engagement, Wipro will acquire Mindsprint, Olam Group’s IT services arm,” Wipro said in a regulatory filing on Monday.
Mindsprint, which was founded in 2007 is headquartered in Singapore. It employs 3,200 professionals across India, Singapore, the US, the UK, and the Middle East. The proposed sale is in life with Olam Group’s Updated 2025 Re-organization Plan to responsibly divest and monetize the remaining Olam Group’s assets and businesses over time and progressively distribute the net proceeds to its shareholders via special dividends.
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Mindsprint provides technology, cybersecurity and digital services across sectors including food and agribusiness, manufacturing, retail and consumer packaged goods, as well as healthcare and life sciences. As part of the strategic engagement, Wipro will deliver end-to-end transformation services to Olam Group through a consulting-led and AI-powered approach.
This will draw on Wipro’s industry expertise, partnerships with leading technology providers, and Wipro Intelligence, its unified suite of AI-powered platforms, solutions and transformative offerings.
Analysts at ICICI Securities said the transaction is Wipro’s largest acquisition to date and improves revenue visibility while strengthening Wipro’s consulting, platform and industry-specific capabilities in the food and agribusiness vertical.
The acquisition of Mindsprint will be through an all-cash deal for 100 per cent shareholding, and is expected to be completed by June 30, 2026, subject to customary closing adjustments and regulatory approvals, including anti-trust clearances in Saudi Arabia and Australia.
“Wipro’s strategic engagement with Olam Group is an important step in expanding our farm-to-fork capabilities and scaling the impact of Wipro Intelligence across the food and agri-business industry. By bringing Mindsprint’s deep domain expertise and IP-led solutions, together with Wipro’s consulting-led and AI-powered capabilities, we aim to unlock growth opportunities, catalyse innovation, and drive market-ready transformation for Olam Group and our global clients across the industry,” Wipro CEO and MD Srini Pallia said.
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Mindsprint will become a wholly-owned subsidiary of Wipro, under the terms of the deal. Key management personnel will continue to lead the business, under the leadership of Mindsprint CEO Suresh Sundararajan.
“As Mindsprint enters its next phase of growth with Wipro, we are confident that the combination of its deep domain expertise and Wipro’s global scale and advanced capabilities will further strengthen the value it delivers to Olam Group. This partnership positions us well to accelerate our transformation agenda and build a more agile, resilient and future-ready organization,” said Sunny Verghese, Co-Founder and CEO of Olam Group.
Wipro shares went up as 3.2% on Monday after the deal was announced. The stock was last up 1.9% at 9:34 a.m. IST, making it the top gainer on the IT index (.NIFTYIT), which was trading 0.5% higher. It was also the second-biggest gainer on the benchmark Nifty 50 (.NSEI), which was down 0.2%.