Singapore's Olam to sell IT unit to Wipro for $375 million

Olam

06/04/2026 01:29

April 6 (Reuters) - Singapore-based Olam Group OLAG.SI said on Monday it has agreed to sell its IT and digital services business, Mindsprint, to Indian IT services firm Wipro WIPR.NS for an enterprise value of $375 million.

Here are some details:

Olam Holdings, an unit of the Singapore-based food and agri-business conglomerate, will sell 200 million ordinary shares of Mindsprint to Wipro Networks, a Wipro subsidiary.

OG group or Olam's units is expected to realise an estimated gain of $310.51 million from the transaction.

The deal is expected to close by the end June 2026, after which Mindsprint will become a wholly owned subsidiary of Wipro, the Indian IT major said in a statement.

Incorporated in Singapore, Mindsprint provides tech, cybersecurity and digital solutions across sectors, including food and agri-business, manufacturing, retail and consumer packaged goods, as well as healthcare and life sciences.

Separately, OG Group has awarded Wipro an eight-year services contract with a committed annual spend of $100 million. The contract would account for roughly 55%-60% of Olam Group's total annual spend on tech and shared services.

Wipro said the eight-year engagement is expected to exceed $1 billion in total contract value.

Wipro will deploy its expertise, partnership and Wipro Intelligence, its unified suite of AI-powered platforms, to  enhance Olam Group's "farm-to-fork" value chain.

 (Reporting by Sherin Sunny in Bengaluru; Editing by Sumana Nandy)

 ((Sherin.Sunny@thomsonreuters.com;))