Wipro Ltd, based in Bengaluru, India, has secured a $1 billion contract with Singapore's Olam Group, marking a significant return to large-scale IT deals. The contract spans eight years and includes the acquisition of Olam's IT arm, Mindsprint, for $375 million in cash. This acquisition allows Wipro to enhance its IT services tailored for the food and agri-business sector. Olam has committed to investing at least $800 million over the contract duration to modernize its IT systems, with potential total spending exceeding $1 billion. The deal is expected to close by June, pending regulatory approvals. Wipro's shares rose 3.6% following the announcement, reflecting positive market sentiment. This strategic engagement is seen as a pivotal step for Wipro as it aims to expand its capabilities within the agri-business industry, reminiscent of past acquisitions that have led to significant contracts. Analysts view this as part of a broader trend where large IT firms acquire smaller entities to enhance service offerings and secure lucrative contracts.