Olam selling IT and digital services unit Mindsprint to Wipro for US$375 million
Agri-food giant will also spend US$100 million annually with the global tech company for eight years to upgrade its technology
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[SINGAPORE] Agri-food giant Olam Group is selling its information technology and digital services unit to Wipro for US$375 million as part of a broader corporate reorganisation.
The sale of the Mindsprint unit is part of Olam’s strategy to sell off assets over time, with the company planning to distribute the net proceeds to shareholders via special dividends, Olam said on Monday (Apr 6). It posted a more than two times jump in net profit to S$120.3 million for its second half ended Dec 31, 2025. Its earnings per share for that period stood at S$0.0278, up from S$0.0058 in H2 FY2024.
The Singapore-based company also agreed to an eight-year contract to spend US$100 million annually with the global technology services and consulting company.
That represents about 55 to 60 per cent of Olam’s total annual spending on technology and shared services.
Under the agreement, Wipro’s consultants will use artificial intelligence tools to upgrade Olam’s technology across its entire supply chain, from farming and manufacturing to customer engagement.
Leadership continuity
Mindsprint will become a wholly owned subsidiary of Wipro upon the completion of the transaction. The sale is expected to close by the end of June. The unit employs more than 3,200 people globally and serves clients across various sectors including food and agribusiness, manufacturing, retail and healthcare.
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Key management personnel, including Mindsprint chief executive officer Suresh Sundararajan, will continue to lead the business to ensure stability and continuity.
Olam Group co-founder and CEO Sunny Verghese said that the transaction marks another milestone in the company’s reorganisation plan, allowing Olam to sharpen its focus on core operating businesses and unlock long-term value.
The partnership aims to advance Olam’s transformation across its “farm to fork” value chain, enhancing operational effectiveness in areas such as farming, manufacturing and supply chain operations.
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The Mindsprint deal follows the announcement in January of the sale of around 44.6 per cent stake in Olam Agri to the Saudis. The group also expects the completion and receipt of proceeds from the sale of its remaining stake of 32.4 per cent in port operator Arise P&L “sometime towards the end of April”.
The agri-food company sold or wound down three businesses under the remaining group in the 2025 financial year, leaving it with seven.
Shares of Olam fell 0.6 per cent to close S$0.005 lower at S$0.86 on Thursday.
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