Press Release

Singapore 

• Olam Group to divest its IT and digital services business, Mindsprint, to global technology services and consulting company, Wipro, for US$375 million, marking another step forward in its Updated 2025 Re-organisation Plan¹. 

• Awards an eight year strategic transformation deal to Wipro with a committed annual spend of US$100 million. 

• The combined capabilities of both Mindsprint and Wipro will accelerate Olam Group’s mission-critical programmes, strengthen its core operation and deliver scalable outcomes. 

Olam Group Limited (“Olam Group” or the “Company”, together with its subsidiaries “the Group”) today announced that it has entered into a definitive agreement with Wipro Limited (“Wipro”) to sell its 100% stake in Mindsprint Pte. Ltd. (“Mindsprint”) for a cash consideration of US$375 million, subject to closing adjustments (the “Proposed Sale”). 

The Proposed Sale is in line with the Group’s Updated 2025 Re-organisation Plan to responsibly divest and monetise the Remaining Olam Group’s assets and businesses over time and progressively distribute the net proceeds to the Company’s shareholders via special dividends. 

The Group has also awarded an eight year strategic transformation deal to Wipro with a committed annual spend of US$100 million. This amount would represent approximately 55-60% of the annual total spend by the Group on technology and shared services. 

As part of the strategic engagement, Wipro will deliver end‑to‑end transformation services to Olam Group through a consulting‑led and AI‑powered approach. The engagement will draw on Wipro’s industry expertise, partnerships with leading technology providers, and Wipro Intelligence™, its unified suite of AI powered platforms, solutions and transformative offerings. 

Olam Group will advance its transformation across its ‘farm to fork’ value chain, deploying industry-specific solutions aligned with its business priorities. This will span areas such as farming, manufacturing, forecasting, trading, supply chain operations and customer engagement, with a focus on enhancing operational effectiveness, strengthening resilience and supporting long-term growth. 

Under the terms of the transaction, Mindsprint will become a wholly owned subsidiary of Wipro. Key management personnel, led by Mindsprint CEO Suresh Sundararajan, will continue to lead the business, ensuring stability and continuity as Mindsprint scales its capabilities. Mindsprint’s continuing leadership will be key to sustaining value creation for Olam Group and supporting its long-term strategic priorities.

Mindsprint, which provides technology, cybersecurity and digital solutions, employs over 3,200 employees and serves multiple clients across the food and agri-business, manufacturing, retail and CPG, and healthcare and life-sciences verticals, including large enterprise accounts in the US, Asia Pacific and Middle East.

Sunny Verghese, Co-Founder and CEO of Olam Group, said: “This transaction marks another milestone in Olam Group’s ongoing Re-organisation Plan, as we sharpen our focus on our core operating businesses and unlock long-term shareholder value. Mindsprint has been incubated and scaled within the Group as a strategic technology partner, playing a critical role in driving transformation across our global supply chains.

“As Mindsprint enters its next phase of growth with Wipro, we are confident that the combination of its deep domain expertise and Wipro’s global scale and advanced capabilities will further strengthen the value it delivers to Olam Group. This partnership positions us well to accelerate our transformation agenda and build a more agile, resilient and future-ready organisation.”

Suresh Sundararajan, CEO of Mindsprint, said: “Mindsprint was built within Olam Group to address the unique complexities of global food and agribusiness value chains, and has since evolved into a trusted, domain-led transformation partner delivering measurable business outcomes. The platforms and capabilities we have developed have been instrumental in driving efficiency, resilience and growth across Olam Group’s operations.

“Becoming a part of Wipro marks the next phase of our journey, enabling us to scale these capabilities globally while continuing to deliver high-impact, customer-centric transformation for Olam Group and our broader client base.”

Srini Pallia, CEO and Managing Director of Wipro Limited, said: “Wipro’s strategic engagement with Olam Group is an important step in expanding our farm to fork capabilities, and scaling the impact of Wipro Intelligence™ across the Food and Agri business industry. I welcome the leadership team and employees of Mindsprint who will become a part of the Wipro family. By bringing Mindsprint’s deep domain expertise and IP-led solutions, together with Wipro’s consulting-led and AI-powered capabilities, we aim to unlock growth opportunities, catalyze innovation, and drive market‑ready transformation for Olam Group and our global clients across the industry.”

Subject to customary closing conditions, the sale is expected to close by end-June 2026.

Avendus Capital acted as the exclusive financial advisor to Olam Group and Mindsprint on this transaction.