New Delhi, April 6 -- Indian software services exporter Wipro Ltd said Monday it has signed a definitive agreement to acquire the IT services arm of Olam Group, the Singapore-headquartered food and agri-business company controlled by the city-state's investment firm Temasek.
Wipro will acquire 100% of Mindsprint Pte. Ltd for $375 million (about Rs 3,488 crore) in cash, the Mumbai-listed company said in a stock-exchange filing.
The acquisition is part of a wider deal that involves Wipro securing an eight-year transformation deal with Olam. This deal is expected to exceed $1 billion in contract value, with a committed spend of $800 million, Wipro said.
The company said that it will partner in an end-to-end transformation through a consulting-led and AI-powered approach aimed at strengthening Olam's core operations and help it to create competitive advantage.
The acquisition is expected to be completed by June 30.
Olam is a $50 billion conglomerate employing nearly 40,000 people. Mindsprint, headquartered in Singapore and founded in 2007, provides technology and digital transformation services across enterprise applications, data and analytics, digital platform engineering, customer experience, cloud and infrastructure, cybersecurity, and business process services. It has a global workforce of more than 3,200 employees across India, Singapore, the US, the UK and the Middle East.
Wipro said Mindsprint has strong food and agri-business domain experience, supply chain transformation capabilities, and proprietary IP-driven solutions. Its consolidated revenue for the year ended Dec. 31, 2025, was $135.6 million, up from $130.5 million the year before.
Published by HT Digital Content Services with permission from VC Circle.