Wipro wins large transformation engagement from Olam Group and acquires Mindsprint

Wipro said on Monday it has won one of its largest strategic transformation engagements from Olam Group and will acquire Mindsprint, the food and agribusiness company’s IT and digital services business.

The eight-year engagement is expected to exceed $1 billion in total contract value, with committed annual spend of $100 million and $800 million in committed spend overall, according to the company’s announcement. Wipro said Mindsprint will become a wholly owned subsidiary, subject to regulatory approvals and other closing conditions.

Reuters reported that Olam agreed to sell the business for $375 million. It said the transaction involves 200 million ordinary shares of Mindsprint being transferred to Wipro Networks. Business Standard reported that Wipro shares rose after the announcement.

The acquisition is expected to close by the quarter ending June 2026, Wipro said.

The deal gives Wipro a long-term services relationship with Olam Group while also expanding its own capabilities through the acquisition. For Olam, the move is part of a broader restructuring of its business portfolio.

The announcement is a material development for Wipro because it combines a large multi-year outsourcing contract with the purchase of an existing technology unit. The company did not immediately disclose integration details beyond the planned closing timeline.