Wipro to Acquire 100% Stake in Mindsprint Pte. Ltd.
Wipro Ltd has entered into a definitive agreement to acquire 100% shareholding in Mindsprint Pte. Ltd. and its subsidiaries. The agreement was signed on April 5, 2026.The acquisition is part of Wipro’s strategy, which includes a multi-year strategic transformation deal with Olam Group, a leading Food and Agri-business organization headquartered in Singapore. Olam Group, which is majority-owned by Temasek Holdings and employs nearly 40,000 people, has a stated value exceeding USD 50 Billion. This engagement spans eight years and is expected to surpass USD 1 Billion in contract value, with a committed spend of USD 800 Million. Under this broader partnership, Wipro will collaborate with Olam Group on an end-to-end transformation utilizing a consulting-led and AI-powered approach, leveraging Wipro's industry expertise, technology provider partnerships, and Wipro Intelligence™, its AI-powered solutions suite.
Acquisition Details
The transaction involves acquiring Mindsprint, which serves as Olam Group's IT services arm. The purchase consideration amounts to US$ 375 Million, subject to customary closing adjustments.A detailed look at the acquisition specifics is provided below:
| Particulars | Details |
|---|---|
| Target Entity | Mindsprint Pte. Ltd. and its subsidiaries ('Mindsprint') |
| Industry of Target Entity | Information Technology (IT) |
| Percentage of Shareholding Acquired | 100% |
| Nature of Consideration | Cash |
| Cost of Acquisition | US$ 375 Million |
| Indicative Completion Period | By June 30, 2026 |
| Related Party Transaction | No |
Profile of Mindsprint
Mindsprint, headquartered in Singapore and founded in 2007, offers technology and digital transformation services. Its offerings span enterprise applications, data & analytics, digital platform engineering, customer experience, cloud & infrastructure, cybersecurity, and business process services. The company has a global workforce exceeding 3,200 employees across India, Singapore, US, UK, and the Middle East. Mindsprint possesses significant domain experience in the Food and Agri-business sector, along with supply chain transformation capabilities and proprietary IP-driven solutions.Consolidated revenues for Mindsprint for the last three completed years show consistent growth:
| Fiscal Year End | Consolidated Revenues |
|---|---|
| CY23 | USD 118.9 Mn |
| CY24 | USD 130.5 Mn |
| CY25 | USD 135.6 Mn |
Stock Price Movement
Wipro Limited shares closed at ₹194.8, reflecting a gain of ₹3.62 (+1.89%) as of Thursday, April 2nd. The equity traded between ₹188.58 and ₹195.34, while also recording high activity with a total traded volume of 16,623,045.Source:
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