Wipro Acquires Olam Group's IT Business for $375 Million in Major Cross-Border Deal
Indian tech giant Wipro, founded by billionaire Azim Premji, has agreed to acquire the IT services arm of Singapore-based Olam Group for $375 million, along with an eight-year services contract worth over $1 billion.
Key Points
- Wipro acquires Olam's IT arm Mindsprint for $375 million enterprise value
- Eight-year services contract worth $100 million annually (total $1 billion+)
- Wipro will provide AI solutions for Olam's agricultural supply chain
- Wipro shares rose 3.2% following the announcement
Full Details
Wipro Ltd. announced on April 6, 2026, the acquisition of Mindsprint, the IT and digital services arm of Singapore-based agricultural conglomerate Olam Group. The transaction involves Wipro Networks purchasing 200 million ordinary shares of Mindsprint for an enterprise value of $375 million. In addition to the acquisition, Olam has awarded Wipro an eight-year services contract with a committed annual spend of $100 million, bringing the total contract value to over $1 billion. Under this agreement, Wipro will provide consulting services and AI-powered solutions to strengthen Olam's 'farm-to-fork' value chain. Following the announcement, Wipro shares rose as much as 3.2% on the stock market, reflecting investor confidence in the strategic acquisition.
Why It Matters
This deal strengthens Wipro's presence in the agricultural technology sector while providing Olam with advanced AI capabilities for its global farm-to-fork operations. The transaction represents a significant win for Indian IT services in Southeast Asian markets.
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