Mindtree

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Mindtree Ltd.
Type Public
Traded as BSE532819; NSEMINDTREE
Industry IT, PES (Product Engineering Services)
Founded 18 August 1999
Headquarters Bangalore, India
Key people Subroto Bagchi(Chairman)
Krishnakumar Natarajan(CEO)
Rostow Ravanan(CFO)
Revenue Increase$ 501.5 million USD (2014) [1]
Operating income Increase$ 101 million USD (2014)[2]
Total assets Increase$ 341.06 million USD (2014)[3]
Employees 13,108 (Jun 2014)[4]
Website www.mindtree.com

Mindtree is a Global information technology and Outsourcing company headquartered in Bengaluru, India and New Jersey. Founded in 1999, the company employs approximately 13,000 employees with annual revenue of $500+ million.[5] Mindtree sells technology services. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP with more than 200 clients and offices in 14 countries.[6]

History[edit]

In August 1999, Mindtree was founded by ten IT professionals, who formerly worked for Cambridge Technology Partners, Lucent Technologies, and Wipro.[7] Mindtree was funded by venture capital firms, such as Walden International and Sivan Securities and later in 2001 from the Capital Group and Franklin Templeton.[8]

Mindtree went public on 12 December 2006 and was listed on Bombay Stock Exchange and National Stock Exchange. The IPO opened on 9 February 2007 and closed on 14 February 2007.[9] The IPO was oversubscribed more than 100 times.[10] Subroto Bagchi, co-founder and chairman, has written about its history.[11]

Mindtree announced a new brand identity with the unveiling of its logo, which includes the new tagline "Welcome to possible" [sic] on September 28, 2012. The rebranding initiative was fronted by Siegel + Gale, a brand strategy, customer experience and design consultancy.[12]

Global presence[edit]

The company has 28 offices located across the globe.[13] Mindtree setup its first U.S. delivery center (USDC) in Gainesville, Florida, under the leadership of Scott Staples, co-founder and Global Head of Sales.[14]

Location[edit]

India: Bengaluru, Chennai, Pune, Hyderabad. Bhubaneswar - Under Construction.

USA: Redmond, California, Phoenix, Texas, Gainesville, Illinois, New Jersey

Asia (Except India): Singapore, Dubai, China

Europe: United Kingdom, Netherlands, Germany, Sweden, Switzerland, Belgium

Oceania: Australia

Innovation Labs[edit]

Services[edit]

The company specialise in Application Development and Maintenance, Digital Services, Enterprise Application Services, EAI BPM (Enterprise Application Integration and Business Process Management), Engineering R&D, Enterprise Application Services, Testing, Infrastructure Management and IT Strategy & Consulting.[16] MindTree provides various Research and Development services such as IP-led services, bluetooth, semiconductor, Digital Video Surveillance, MindTest(Integrated Test Methodology), MWatch(IT infrastructure management and service platform) and OmniChannel.[17][18] [19]

Mindtree’s business is structured around clients in key verticals such as Key Accounts Group, BFSI, Manufacturing, Fast-moving consumer goods, Retail and Travel,Transport and Hospitality industry, Hitech (Digital and Media Services). The company has business analysts, technology experts and services specialists engineering for clients across these verticals.[20]

Acquisitions[edit]

Name Acquisition date Activities Country of HQ Price Employees
(at acquisition)
Reference
ASAP Solutions 2004 SAP & ERP India & USA NA 120 [21]
Linc Software Services Pvt Ltd 2005 Application development and Maintenance domains for Mid-Range Systems India $7 million USD 220 [22]
CoSystems 2005 Telecom (Captive Development Center - Indian division) USA INR 10 million INR 20 [23]
TES-Purple Vision 2007 Electronics(IC Design). Indian Division. Subsidiary of TES Electronic Solutions SA. France $6.55 million USD 150 [24][25]
Aztecsoft 2008 Product engineering and Testing services company. Aztecsoft acquired Disha Technologies a testing company in 2004 India INR 40 million INR 2200 [26][27]
Kyocera Wireless India Pvt Ltd 2009 Wireless services. Indian R&D Division Japan $6 million USD 600 [28][29]
7Strata 2010 Remote infrastructure management services India INR 7.2 million INR 90 [30][31]

Subsidiaries[edit]

Name Location Type Industry
Mindtree Software (Shanghai) Co. Ltd[32] Shanghai, China Owned IT
Nuvepro [33] Bengaluru, India Independent. Incubated at Mindtree Cloud Computing - VMUnify

See also[edit]

References[edit]

External links[edit]