Wipro gets $1 bn contract from Olam Group
Bengaluru, April 7 -- Wipro Ltd has bagged a $1 billion, eight-year contract from Singapore-based food processing major Olam Group, marking its first mega deal in nearly six years.
As part of a broader engagement, the country's fourth-largest information technology (IT) services firm will acquire Mindsprint, Olam's IT arm, for $375 million in an all-cash deal, it said in a release to the stock exchanges on Monday.
Following the announcement, Wipro's shares opened 3.6% higher at Rs.198.4 on the BSE in a largely weak market.
The Bengaluru-based IT services company will manage the food processing company's end to end IT transformation services. Olam has committed to spending at least $800 million over eight years in modernising its IT systems ...
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