IT services firm Wipro Ltd. has signed an eight-year transformation agreement with Singapore-based agri and food major, Olam Group, with the total contract value expected to cross $1 billion (around ₹9,314 crore). 

As part of the wider arrangement, Wipro will acquire Olam’s IT and digital services arm, Mindsprint Pte. Ltd., for $375 million (about ₹3,494 crore) in an all-cash deal. 

"As part of this broader engagement, Wipro will acquire Mindsprint, Olam Group's IT services arm," Wipro said in a regulatory filing on Monday. 

Founded in 2007, Mindsprint employs more than 3,200 people across key markets including India, Singapore, the US, the UK, and the Middle East. The company reported consolidated revenue of $135.6 million for the calendar year 2025. 

Olam’s reorganisation strategy for 2025 

The divestment aligns with Olam’s reorganisation strategy announced for 2025, which focuses on gradually monetising its remaining businesses and returning value to shareholders through special dividends. 

Under the agreement, Wipro will provide end-to-end transformation services to Olam, using a consulting-led model supported by artificial intelligence tools and platforms. The company plans to leverage its industry expertise, partnerships with global technology firms, and its AI suite, Wipro Intelligence. 

The acquisition, which involves 100% stake in Mindsprint, is expected to be completed by June 30, 2026, subject to regulatory approvals, including anti-trust clearances in Saudi Arabia and Australia. 

“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. 

Mindsprint will be Wipro’s wholly-owned arm  

Following the deal, Mindsprint will operate as a wholly-owned subsidiary of Wipro, with its existing leadership team, headed by CEO Suresh Sundararajan, continuing to run the business. 

"This partnership positions us well to accelerate our transformation agenda and build a more agile, resilient and future-ready organisation," said Sunny Verghese. 

Olam Group, backed largely by Temasek Holdings, operates across more than 60 countries and serves nearly 22,000 customers, supplying food, feed, ingredients, and fiber globally. 

After the deal, shares of Wipro were trading at ₹197.00 at 11:11 am, up 1.13% on the BSE. 

(With PTI inputs)