Olam Group to divest Mindsprint to Wipro for US$375mn as part of its reorganisation plan

• Based on Olam’s unaudited FY2025 accounts, the Group expects to realise an estimated gain of around US$310.5m from the sale.
• Key management, led by CEO Suresh Sundararajan, will continue to lead the business.
  
• The divestment is coupled with a long-term strategic engagement: an eight‑year services contract under which Wipro will deliver end‑to‑end transformation services to Olam.

Olam Group has announced the proposed divestment of its IT and digital services arm, Mindsprint, to Wipro for US$375m, as part of its 'Updated 2025 Re-organisation Plan'.

Under the deal, Olam’s wholly owned subsidiary Olam Holdings will sell 100% of Mindsprint’s shares to Wipro Networks, a unit of India-headquartered Wipro Limited. Post-completion, Olam will cease to hold any equity in Mindsprint.

At the same time, Olam has entered into an eight‑year strategic transformation contract with Wipro, with a committed annual spend of US$100m. This will account for about 55–60% of Olam Group’s yearly technology and shared services spend.

What this means for Olam’s strategy and its people

Under its reorganisation plan, the Group said it aims to "responsibly divest and monetise" remaining assets over time, and progressively distribute net proceeds to shareholders via special dividends, subject to regulatory and shareholder approvals.

Based on Olam’s unaudited FY2025 accounts, the Group expects to realise an estimated gain of around US$310.5m from the sale. This gain will accrete to equity reserves and is expected to lift net tangible asset (NTA) per share on a pro forma basis.

Sunny Verghese, Co-Founder and Group CEO of Olam Group, called the transaction "another milestone" in the Group’s reorganisation journey: "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."

From a people standpoint, Mindsprint’s 3,200+ employees will move into the Wipro group. Key management, led by CEO Suresh Sundararajan, will continue to lead the business, "ensuring stability and continuity as Mindsprint scales its capabilities."

Incorporated in Singapore in 2021, Mindsprint provides technology, cybersecurity and digital solutions, serving clients across food and agribusiness, manufacturing, retail and consumer packaged goods, and healthcare and life sciences, including large enterprise accounts in the US, Asia Pacific and the Middle East.

Suresh commented on what the transition means for the team and clients: "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."

He added that becoming a part of Wipro marks the next phase of the journey, enabling the team to scale these capabilities globally while continuing to deliver transformation for Olam Group and its broader client base.

Finally, Srini Pallia, Chief Executive Officer and Managing Director, Wipro, said: "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, catalyse innovation, and drive market‑ready transformation for Olam Group and our global clients across the industry."

An eight-year, AI-powered partnership across Olam’s "farm to fork" value chain

The divestment is coupled with a long-term strategic engagement: an eight‑year services contract under which Wipro will deliver end‑to‑end transformation services to Olam through a consulting-led, AI-driven approach.

The partnership will tap into Wipro Intelligence™, Wipro’s unified suite of AI-powered platforms, solutions, and transformative offerings, alongside its ecosystem partnerships with technology providers.

Olam will deploy these capabilities across its "farm to fork" value chain, covering:

• Farming
• Manufacturing
• Forecasting
• Trading
• Supply chain operations
• Customer engagement
  

The focus, Olam said, is on enhancing operational effectiveness, strengthening resilience and supporting long-term growth, while continuing to rely on Mindsprint’s domain expertise under Wipro’s ownership.

Reflecting on the journey in a LinkedIn post following the announcement, Joydeep Bose, Managing Director & Group CHRO, Olam International, shared about how the move came about: "About five years ago, an idea was floated — could we transform Olam's captive tech centre into a standalone technology and business services organisation?"

With the proposal backed, what followed was "the work of building something from scratch: a vision, a strategy, a set of values, and a name that captured exactly what we were trying to do — Mindsprint."

The real challenge here, he said, wasn't the idea. "It was the pivot — taking an organisation built to serve one company and equipping it to win and serve third-party customers in a competitive market. New leadership came in, capabilities were built, and brick by brick, a healthy external business took shape alongside a growing Olam business."

He added: "It has been a fun journey — and an enormously rewarding one. The value created through this sale speaks for itself."

Photo / Mindsprint's newsroom