India, April 9 -- Wipro has signed an $1 billion, eight-year deal with Olam Group, marking its return to large, multi-year contracts after a gap of nearly six years.

The agreement goes beyond a typical outsourcing deal. As part of the engagement, Wipro will acquire Mindsprint, Olam's IT arm, for $375 million in an all-cash transaction. The move brings together long-term service delivery with in-house capability building, something that has worked well for IT services firms in the past.

At its core, this is not just about managing IT systems. Wipro will take on end-to-end transformation work, helping modernise Olam's technology stack over the next eight years.

Olam has committed to spending at least $800 million during this period, with...