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Shares of Wipro Limited ended higher on Monday after the company announced a major multi-year strategic deal with Singapore-based Olam Group.
In an exchange filing, Wipro said it has secured a large transformation contract with Olam Group, marking a significant development in its international business operations. The 8-year partnership is expected to generate over USD 1 billion in total contract value, with a committed spend of USD 800 million. As part of the deal, Wipro will provide end-to-end transformation services through a consulting-led and AI-powered approach. The shares of Wipro on the National Stock Exchange closed with a surge of 1.43 per cent to Rs 197.70 per share. Wipro said the engagement will leverage its industry expertise, partnerships with leading technology providers and its AI-driven platforms under Wipro Intelligence, aimed at strengthening Olam Group's core operations and enhancing its competitive position. It stated "Wipro has secured a multi-year strategic transformation deal with Olam Group, a leading USD 50+ Billion Food and Agri-business headquartered in Singapore, employing nearly 40,000 people, and majority-owned by Temasek Holdings." A key highlight of the agreement is Wipro's acquisition of Mindsprint, the IT and digital services arm of Olam Group, for USD 375 million. The acquisition is part of the broader strategic partnership between the two companies. The deal reflects Wipro's continued focus on expanding its global presence and strengthening its capabilities in digital transformation and artificial intelligence-driven services. The partnership is expected to help Olam Group improve operational efficiency and build a sustainable competitive advantage through technology-led transformation. The company also stated that as part of the 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 Intelligenc, its unified suite of AI-powered platforms, solutions, and transformative offerings. Together, these capabilities will strengthen Olam Group's core operations and support the creation of a sustainable competitive advantage. Under the terms of the acquisition of Mindsprint by Wipro, Mindsprint will become a wholly owned subsidiary of Wipro, subject to regulatory approvals and closing conditions. This is expected to close at quarter ending Q1 FY27 (end of June 2026). (ANI)
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