Wipro has agreed to acquire the IT services business of Olam Group in a deal valued at $375 million, marking one of the company’s largest acquisitions to date.
The transaction involves Wipro Networks purchasing 200 million shares of Mindsprint, Olam’s technology and digital services unit, strengthening Wipro’s capabilities across key sectors including agribusiness, manufacturing, retail, and healthcare.
Mindsprint provides a range of services spanning technology, cybersecurity, and digital transformation, and brings with it industry-specific expertise as well as proprietary platforms. Analysts said the acquisition is expected to enhance Wipro’s consulting strength and deepen its presence in the food and agribusiness vertical.
The deal also includes a long-term strategic component, with Olam awarding Wipro an eight-year services contract with a committed annual spend of $100 million. Wipro said the total contract value is expected to exceed $1 billion, providing strong revenue visibility over the coming years.
The acquisition is seen as a move beyond traditional outsourcing, offering Wipro a more integrated and strategic engagement model with Olam, supported by domain expertise and captive delivery capabilities.
With this deal, Wipro aims to strengthen its position in high-growth verticals while expanding its portfolio of platform-led and industry-focused services.
The transaction involves Wipro Networks purchasing 200 million shares of Mindsprint, Olam’s technology and digital services unit, strengthening Wipro’s capabilities across key sectors including agribusiness, manufacturing, retail, and healthcare.
Mindsprint provides a range of services spanning technology, cybersecurity, and digital transformation, and brings with it industry-specific expertise as well as proprietary platforms. Analysts said the acquisition is expected to enhance Wipro’s consulting strength and deepen its presence in the food and agribusiness vertical.
The deal also includes a long-term strategic component, with Olam awarding Wipro an eight-year services contract with a committed annual spend of $100 million. Wipro said the total contract value is expected to exceed $1 billion, providing strong revenue visibility over the coming years.
The acquisition is seen as a move beyond traditional outsourcing, offering Wipro a more integrated and strategic engagement model with Olam, supported by domain expertise and captive delivery capabilities.
With this deal, Wipro aims to strengthen its position in high-growth verticals while expanding its portfolio of platform-led and industry-focused services.
