Wipro bags $1 bn deal from Olam Group; to acquire Mindsprint for $375 mn

IT services firm Wipro has secured an eight-year transformation deal with Singapore-based food and agri-business major Olam Group, which is expected to exceed USD 1 billion (about Rs 9,314 crore) in contract value. As part of the broader engagement, Wipro said it will acquire Olam Group's IT and digital services business, Mindsprint Pte. Ltd., for USD 375 million (about Rs 3,494 crore). "Wipro has secured a multi-year strategic transformation deal with Olam Group, a leading USD 50+ Billion Food and Agri-business headquartered in Singapore, employing nearly 40,000 people, and majority-owned by Temasek Holdings. This 8-year deal with Olam Group is expected to exceed USD 1 billion in contract value, with a committed spend of USD 800 million. "As part of this broader engagement, Wipro will acquire Mindsprint, Olam Group's IT services arm," Wipro said in a regulatory filing on Monday. Mindsprint, founded in 2007 and headquartered in Singapore, employs over 3,200 professionals across Ind

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