Mphasis

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Mphasis
Type Public (BSE526299, NSEMPHASIS)
Industry IT services, IT consulting
Founded Incorporated June 2000
Founders Jaithirth Rao
Jeroen Tas
Headquarters Bagmane World Technology Center , Bangalore, India(Bangalore)
Key people Balu Ganesh Ayyar (CEO)
Services IT, business consulting and outsourcing services
Revenue INR59.36 billion (US$960 million) (2013)[1]
Net income INR7.43 billion (US$120 million) (2013)[1]
Employees 45,426 (2012)
Website MphasiS.com

Mphasis is a Bangalore based IT services company majority owned by Hewlett-Packard. The company provides infrastructure technology and applications outsourcing services, as well as architecture, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. MphasiS is ranked #7 in India IT companies and overall #165 by Fortune India 500 in 2011[2] with more than 40,000 employees [3] as of 2012. In February 2014 the Mphasis company changed its logo and the Brand Name as Mphasis Unleash the Next as it seeks to boost business other than from parent Hewlett-Packard, currently its largest client. The 5th Feb 2014's announcement "in no way changes the shareholding of HP which is 60.5%, it is about Mphasis being more relevant to customers , including HP," Ayyar told reporters in Bangalore.

History[edit]

MphasiS (then, MphasiS BFL Limited) was formed in June 2000 after the merger of the US-based IT consulting company MphasiS Corporation (founded in 1998) and the Indian IT services company BFL Software Limited (founded in 1992).[4] MphasiS Corporation was founded in 1998 in Santa Monica, California by Jerry Rao[5] and Jeroen Tas.[6]

In June 2006 Electronic Data Systems (EDS) purchased a controlling stake in the company (42%) for $80 million and operated as an independent EDS unit.[7]

On 13 May 2008, Hewlett-Packard confirmed that it had reached a deal with Electronic Data Systems to acquire the company for $13.9 billion.[8] The deal was completed on 26 August 2008.

In September 2009 MphasiS changed its brand identity by dropping EDS association to become "MphasiS, an HP Company" after HP retired EDS Brand to become "HP Enterprise Services". MphasiS operates as an independent HP subsidiary with its own board and continues to be listed on Indian markets as "MphasiS Limited".[9] Currently HP owns close to 62% in MphasiS and MphasiS gets around 50% of its revenues from HP.[10]

MphasiS marked $1 billion in revenues and registered a consolidated revenue of Rs50.37 billion ($1,099.3 million) for the year ended 31 October 2010 becoming the sixth Indian IT company to do that.[11]

Services[edit]

MphasiS providing information technology services to its customers around the world. MphasiS provides integrated solutions that include business process outsourcing, infrastructure technology, and application services. The application services offered by the company includes application development as well as applications maintenance and support services. The markets served by the company are financial services & insurance, healthcare, manufacturing, government, transportation, communications, and consumer & retail industries.[12]

Mphasis has come up with some service based products in their expertise domain.

  • Billing as a Service (Insurance domain)[13]
  • AccelOn - Client on-boarding (Banking domain)[14]

Offices[edit]

MphasiS has more than 30 offices in 19 countries with delivery centers in India, Sri Lanka, China, Australia, Japan, North America and Europe.[15] In India it has presence with centers in Bangalore, Noida, Raipur, Chennai, Pune, Mumbai, Vadodara, Indore, Puducherry, Ahmedabad, Bhubaneswar,Hyderabad and Mangalore.

Acquisitions[edit]

  • Navion Software, China (2002)[16]
  • Kshema Technologies, Bangalore, India (2004)[17]
  • Onida Infotech Services (Mirc Electronics SAP Division), Mumbai, India (2004)[18]
  • Princeton Consulting in UK (2005)[19]
  • Eldorado Computing in US (2005)[20]
  • AIG Systems Solutions, India (2009)[21]
  • Fortify Infrastructure Services in US (2010)[22]
  • Wyde Corporation in US (2011)[23]
  • Digital Risk, LLC in US(2012)[24]

See also[edit]

References[edit]

  1. ^ a b "BSE Plus". Bseindia.com. Retrieved 2014-02-22. 
  2. ^ "Fortune India 500 complete list". MphasiS. 18 December 2011. Retrieved 2011-12-18. 
  3. ^ MphasiS expands presence in North America region - opens near shore centre in Canada
  4. ^ "Company History of MphasiS". Moneycontrol.com. Retrieved 2010-08-19. 
  5. ^ "Jaithirth (Jerry) Rao: 2006 Distinguished Entrepreneurial Alumni Award Winner". Chicagobooth.edu. Retrieved 2010-08-19. 
  6. ^ Jeroen Tas: Executive Profile and Biography - Business Week
  7. ^ EDS acquires majority stake in MphasiS
  8. ^ HP to buy EDS for 13.9 bln dlrs, to expand services
  9. ^ "MphasiS become HP Company" (PDF). Retrieved 2010-08-19. 
  10. ^ Tough time ahead for MphasiS as Hewlett Packard cut its sales forecast
  11. ^ "MphasiS crosses $1 billion revenue mark, PAT up 20%". The Times Of India. 23 November 2010. 
  12. ^ MphasiS Limited (526299) - Financial and Strategic Analysis Review
  13. ^ "MphasiS Launches BaaS, a Comprehensive Billing Solution for the Insurance Industry" (Press release). 6 May 2013. 
  14. ^ "Increase operational efficiency and overall profitability with our cutting edge solution AccelOn". Mphasis. 
  15. ^ MphasiS Offices
  16. ^ "Mphasis to acquire Navion Software of China". Archives.infotech.indiatimes.com. 25 October 2002. Retrieved 2010-08-19. 
  17. ^ "MphasiS to acquire Kshema Technologies". Chennai, India: Hindu.com. 3 April 2004. Retrieved 2010-08-19. 
  18. ^ MphasiS to buy out SAP division of MIRC Electronics
  19. ^ MphasiS acquires Princeton Consulting in Rs 60 cr deal
  20. ^ "MphasiS Buys Eldorado Computing". The New York Times. 15 March 2005. Retrieved 2010-08-19. 
  21. ^ "MphasiS acquires AIG's IT arm in India". Business-standard.com. 12 August 2009. Retrieved 2010-08-19. 
  22. ^ "HP's MphasiS Buys Fortify for Remote Services". Pcworld.com. 8 April 2010. Retrieved 2010-08-19. 
  23. ^ "Mphasis paid 2-4.5 times sales for Wyde in cash: CEO". Moneycontrol.com. 1 August 2011. Retrieved 2011-08-01. 
  24. ^ "MphasiS shares surge over 6% on Digital Risk deal". Zee News. 3 December 2012. Retrieved 3 December 2012. 

External links[edit]