In a bourse filing on May 15, Mainboard-listed Olam Group has announced the completion of the sale of subsidiary Mindsprint to Wipro, a global technology services and consulting company. Wipro paid US$386 ($492) million in cash for Mindsprint.
The sale of Mindsprint, an IT and digital services business, is part of Olam’s updated 2025 re-organisation plan to gradually divest and monetise the assets and businesses of Olam Global Holdco and distribute the net proceeds to the shareholders via special dividends after taking into account the prevailing operational and financing needs of Olam.
While fully-divested from Olam, Mindsprint will continue to support the technology and shared services requirements of its former parent under an eight-year agreement with Wipro.
Olam chairman Yap Chee Keong says: “The completion of the Mindsprint divestment marks another significant step forward in our Re-organisation Plan, and follows the completion of the landmark sale of 44.58% stake in Olam Agri to SALIC which we announced in April 2026. We are making meaningful and tangible progress in crystallising the value of our businesses and assets for shareholders.”
