Wipro Ltd. has agreed to acquire the technology services arm of Singapore-based Olam Group Ltd. for $375 million, anchoring a massive eight-year transformation contract worth more than $1 billion.
The deal marks a significant strategic pivot for India’s fourth-largest software services exporter under Chief Executive Officer Srini Pallia. By absorbing Olam’s Mindsprint Pte., Wipro secures a deep foothold in the “farm-to-fork” supply chain—a sector increasingly reliant on artificial intelligence and digital logistics to navigate global inflationary pressures.
Shares of Bengaluru-based Wipro rose as much as 3.2% in Monday trading, leading gains on the Nifty IT index.
The Transaction Details
The acquisition is an all-cash deal for 100% of Mindsprint, which reported $135.6 million in revenue for 2025. Wipro will integrate the unit’s 3,200 professionals across India, the US, and the UK to bolster its “Wipro Intelligence” AI suite.
- Total Contract Value: Expected to exceed $1 billion over eight years.
- Committed Spend: $800 million ($100 million annually).
- Acquisition Cost: $375 million for Mindsprint.
- Completion Target: 30 June 2026, pending regulatory nods in Saudi Arabia and Australia.
Agritech Pivot
For Olam Group, majority-owned by Singapore’s state investor Temasek Holdings Ltd., the divestment is a core pillar of its 2025 reorganisation plan. The company, which supplies ingredients to 22,000 customers globally, intends to distribute the net proceeds to shareholders via special dividends.
“The combination of Mindsprint’s deep domain expertise and Wipro’s global scale will further strengthen the value delivered to Olam,” said Sunny Verghese, co-founder and CEO of Olam Group.
The move comes at a critical time for Wipro. The company’s shares have slumped 24.5% year-to-date, underperforming the broader IT index as the industry grapples with a slowdown in discretionary tech spending. Analysts view this “captive-to-vendor” transition as a way to secure long-term, “sticky” revenue.
Scaling AI in Agriculture
Wipro plans to use Mindsprint IP to offer specialised consulting for the food and retail sectors. The engagement will focus on a consulting-led, AI-powered approach to modernise Olam’s sprawling operations, which span more than 60 countries.
“By bringing Mindsprint’s deep domain expertise together with Wipro Ltd.’s AI-powered capabilities, we aim to drive market-ready transformation for Olam and our global clients,” Pallia said in a regulatory filing.
Mindsprint CEO Suresh Sundararajan will continue to lead the business as a wholly-owned subsidiary of Wipro.
Analyst View
Brokerage ICICI Securities noted that the transaction is Wipro’s largest to date, significantly improving revenue visibility. Unlike traditional outsourcing, the deal provides Wipro with specific platforms for manufacturing and life sciences, making it harder for competitors to displace them in future bidding cycles.
