Avendus Capital advises Olam Group on its divestment of Mindsprint to Wipro for USD 375 mn

Overview

Olam Group, a leading food and agri-business supplying food, ingredients, feed and fibre , today announced that it has entered into a definitive agreement with Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) to sell its 100% stake in Mindsprint Pte. Ltd. for a cash consideration of US D 375 mn, subject to closing adjustments. Olam Group has also awarded an eight year strategic transformation deal to Wipro with a committed annual spend of US D 100 mn. This amount would represent approximately 55-60% of the annual total spend by the Group on technology and shared services.

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

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.

Deal Value

USD 375 mn

Service

Mergers & Acquisitions

Sector

Enterprise Technology & Services

Date

Apr 2026

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 po sitions us well to accelerate our transformation agenda and build a more agile, resilient and future-ready organization.

Sunny Verghese

Co-Founder and CEO of Olam Group

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.

Suresh Sundararajan

CEO of Mindsprint

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.

Srini Pallia

CEO and Managing Director of Wipro Limited

We are pleased to partner with Olam Group and Mindsprint on this strategically important transaction, support ing Olam Group’s re-organization efforts and long-term transformation agenda. This transaction reflects a broader shift we are seeing globally, where enterprises are unlocking value from domain-led digital capabilities, while partnering with scaled technology leaders to accelerate AI-powered transformation. The combination of Mindsprint’s domain expertise in global food and agribusiness value chains with Wipro’s consulting-led, AI-driven global tech capabilities, brings strong synergies for scalable growth. We look forward to seeing this partnership unlock significant value for all stakeholders.

Shobhit Jain

Managing Director & Head, Enterprise Technology & Services Investment Banking, Avendus Capital

About Mindsprint

Mindsprint is an innovation-led next-generation digital transformation and technology partner with deep domain expertise in the real economy sector. Headquartered in Singapore, Mindsprint employs over 3,400 professionals and has been a key enabler of Olam Group’s digital transformation journey since its inception. Combining deep domain knowledge with cutting-edge technology and AI-powered solutions, Mindsprint delivers transformative impact across supply chains and enterprise platforms through its suite of proprietary IP-led solutions, including Farmsprint™, Procuresprint™, Sprint AP™, Salessprint™, and Tradesprint™. Today, Mindsprint partners with 60+ global clients across food & agri-business, manufacturing, retail & CPG, and healthcare & life sciences, with a strong and expanding footprint across the US, APAC, and Middle East.