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Wipro has landed a massive deal, signing an 8-year contract with Olam Group worth over $1 billion. The stock got a boost on the back of this development.
Olam, a Singapore-based food and agri giant backed by Temasek, operates across the globe with a workforce of nearly 40,000.
So what’s the plan: Wipro will help overhaul Olam’s operations using a mix of consulting, AI, and its in-house platforms. The aim is to make the business more efficient, resilient, and ready to scale.
This isn’t just a small tech upgrade. Wipro will be involved across Olam’s entire ‘farm-to-fork’ chain, from farming and forecasting to trading, supply chains, and even customer engagement.
There’s more. As part of the deal, Wipro will also acquire Olam’s digital services arm, Mindsprint, which will become a fully owned subsidiary once approvals come through.
By the numbers: in the third quarter of the current financial year, Wipro’s performance was mixed.
Net profit fell 7% year-on-year to ₹3,119 crore. However, revenue grew 5.5% to ₹23,556 crore. In dollar terms, revenue stood at $2.63 billion, slightly higher than the previous quarter.
The real highlight is deal wins. Wipro secured multiple global contracts across tech, healthcare, manufacturing, and banking, focused on AI, automation, and modernisation to boost efficiency and growth.
