Wipro Bags $1 Billion Olam Group Deal, Announces Mindsprint Acquisition

Shares of Wipro Limited gained nearly 1% on 6 April after the firm disclosed an eight-year, $1 billion-plus strategic transformation deal with Olam Group, which is a $50-plus-billion food and agri-business headquartered in Singapore and majority-owned by Temasek Holdings.

The engagement carries a committed spend of $800 million. Wipro will deliver end-to-end, consulting-led and AI-powered transformation services across Olam’s farm-to-fork value chain. The scale and duration of this contract offer strong revenue visibility for the Bengaluru-based IT major.

As part of this broader engagement, Wipro will acquire Mindsprint, Olam’s IT services arm, for $375 million in cash. Mindsprint brings domain-led capabilities in supply chain management and digital platforms. The acquisition is subject to regulatory approvals, with completion expected by 30 June 2026.

Wipro CEO Srinivas Pallia said the deal strengthens the company’s farm-to-fork capabilities and broadens its AI-led solutions across the food and agri-business sector, according to the company’s exchange filing. There is no related-party transaction involved in this engagement.

The stock touched an intraday high of Rs 201.18 on NSE on 6 April.

At 11:27 am, shares of Wipro were trading up by 0.86% at Rs 196.58 on NSE. The scrip has declined by over 20% in the past year.

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