Bengaluru, April 6 -- Wipro Ltd has bagged a contract worth $1 billion over eight years from Singapore-based food processing company Olam Group, ending a nearly six-year drought of mega deals for the country's fourth-largest information technology (IT) services company.

As part of a broader engagement, Wipro will also acquire Mindsprint, Olam's IT arm, for $375 million in an all-cash deal, the company said in a release to the stock exchanges on Monday.

Following the announcement, Wipro's shares opened 3.6% higher at Rs.198.4 on the BSE in a largely weak market.

The Bengaluru-based IT services company will manage the food processing company's end‑to‑end IT transformation services. Olam has committed to spending at least $800...