Wipro to buy Mindsprint for $375m, Olam transfers 200m shares
Business
Singapore's Olam Group is selling its digital services arm, Mindsprint, to Indian tech giant Wipro for $375 million.
The deal should wrap up by June 2026, making Mindsprint fully part of Wipro.
As part of the move, Olam Holdings will transfer 200 million ordinary Mindsprint shares to Wipro Networks.
Olam signs 8-year $100m-a-year tech pact
Olam expects to gain about $310 million from the sale. On top of that, they have signed an eight-year contract with Wipro worth $100 million each year for tech and shared services.
That is over half of Olam Group's total annual spend on tech and shared services and could cross $1 billion overall.
The partnership will use Wipro's AI tools to boost how Olam runs its farm-to-fork operations.