Mindtree

Mindtree Limited is an Indian multinational information technology and outsourcing company headquartered in Bengaluru, India and New Jersey, USA. Founded in 1999, the company employs approximately 16,500+ employees with annual revenue of $780+ million.[6] The company deals in e-commerce, mobile applications, cloud computing, digital transformation, data analytics, EAI and ERP, with more than 328 clients and 43 offices in over 17 countries, as of 31st March, 2017.[7] Its largest operations are in India and major markets are United States and Europe. The company was formed on 18 August 1999 by ten IT professionals, who formerly worked for Cambridge Technology Partners, Lucent Technologies, and Wipro.[8]

History[edit]

In August 1999, Mindtree Consulting Private Limited was founded by ten IT professionals of which three of them invested through an entity incorporated in Mauritius.[9] It was funded by the venture capital firms Walden International and Sivan Securities, and later in 2001 from the Capital Group and Franklin Templeton.[10] It became a public company on 12 December 2006 and was listed on the Bombay Stock Exchange and National Stock Exchange. The IPO opened on 9 February 2007 and closed on 14 February 2007.[11] The IPO was oversubscribed more than 100 times.[12] Mindtree announced a new brand identity and logo, with the slogan "Welcome to possible" on September 28, 2012.[13]

As of 2017, the company had 43 offices in over 17 countries.[14] 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.[15]

Digital Pumpkin, the company's research and development lab, is at Bengaluru, India[16]

Services[edit]

Mindtree Chennai at Ramanujan IT City Sez

The company specializes in Application Development and Maintenance, Data Analytics, Digital Services, EAI BPM (Enterprise Application Integration and Business Process Management), Engineering R&D, Enterprise Application Services, Independent Testing, Infrastructure Management Services and IT Strategy & Consulting.[17]

Mindtree provides various Research and Development services such as Bluetooth Solutions, Digital Video Surveillance, MindTest(Integrated Test Methodology), MWatch(IT infrastructure management and service platform), Atlas (Application Managed Services), SAP Insurance and OmniChannel.

Mindtree’s business is structured around clients in key verticals such as Banking, Capital Markets, Consumer Devices & Electronics, Consumer Packed Goods, Independent Software Vendors, Manufacturing, Insurance, Media & Entertainment, Retail, Semiconductors and Travel and Hospitality industry.[18]

Employees[edit]

Mindtree has a total of 16,000+ employees as of March 2017, of which 28% were women. Its workforce consists of employees representing 48 nationalities working from various offices across the globe. Out of its total workforce, 94% are software professionals and remaining 6% work for support and sales.[19]

Acquisitions[edit]

Name Acquisition date Activities Country of HQ Price Employees
(at acquisition)
Reference
ASAP Solutions 2004 SAP & ERP India & United States NA 120 [20]
Linc Software Services Pvt Ltd 2005 Application development and Maintenance domains for Mid-Range Systems India $7 million 220 [21]
CoSystems 2005 Telecom (Captive Development Center – Indian division) United States 10 million 20 [22]
TES-Purple Vision 2007 Electronics(IC Design). Indian Division. Subsidiary of TES Electronic Solutions SA. France $6.55 million 150 [23][24]
Aztecsoft 2008 Product engineering and Testing services company. Aztecsoft acquired Disha Technologies a testing company in 2004 India 40 million 2200 [25][26]
Kyocera Wireless India Pvt Ltd 2009 Wireless services. Indian R&D Division Japan $6 million 600 [27][28]
7Strata 2010 Remote infrastructure management services India 7.2 million 90 [29][30]
Discoverture Solutions LLC Jan 2015 Property and Casualty Insurance United States $15 million 300 [31]
Bluefin Solutions Limited July 2015 IT solutions, SAP HANA solutions United Kingdom £42.3 million [32]
Relational Solutions Inc July 2015 IT solutions — CPG United States $10 million [32]
Magnet 360 Jan 2016 Salesforce consulting USA $50 million 100 [33]

Subsidiaries[edit]

Name Location
Mindtree Software (Shanghai) Co. Ltd[34] Republic of China
Discoverture Solutions L.L.C. United States
Bluefin Solutions Limited United Kingdom
Bluefin Solutions Inc. United States
Bluefin Solutions Sdn Bhd Malaysia
Blouvin (Pty) Limited South Africa
Bluefin Solutions Pte Ltd Singapore
Relational Solutions Inc. United States
Magnet 360, LLC United States
Reside, LLC United States
M360 Investments, LLC United States
Numerical Truth, LLC United States

Philanthropy[edit]

Mindtree Foundation is a unit of Mindtree that works in the pursuit of better living for people with disabilities and enhancement in the quality of primary education.[35] Mindtree Foundation was incorporated on 20 November 2007 under section 25 of Companies Act. Html//Mindtree Mindtree’s employees, assistive technologies and associations with NGOs help to provide:[36]

  • Launched 'Udaan' ,a scholarship program to support the medical education of underprivileged students in association with Narayana Hrudayalaya Charitable Trust.[37]
  • Launched 'I Got Garbage' ,a cloud-based platform aimed to simplify waste management and transform every waste picker in Bangalore, India into an entrepreneur through a structured and governed waste management framework.[38]
  • Individual Social Responsibility – Employees join the cause of donation of old clothes/toys/books, distribution of solar lanterns, caring for the elderly, cleaning up the city, blood and organ donation.[39]

Awards and recognition[edit]

  • Mindtree named as 2016 Azure Innovation Partner of the Year by Microsoft.[40]
  • Mindtree Named A Leader for Application Outsourcing by Forrester Research.[41]
  • Mindtree has won the ‘2016 New Jersey Corporate Culture Award’ by Smart CEO’s for its successful cultural practices.[42]
  • Mindtree is overall leader in software testing services by NelsonHall, (NEAT) Report 2016.[43]
  • Mindtree named in Forbes India’s Super 50 2016 list for the second consecutive year.[44]
  • Mindtree has been ranked in the NASSCOM Top 20 IT-BPM Employers in India FY2016 list.[45]
  • Mindtree recognized as a Leader in IAOP’s 2016 Global Outsourcing 100 for global excellence.[46]
  • Mindtree named a Leader in Zinnov's Global R&D Service Provider Ratings for the Third Year in a Row in 2014.[47]
  • Mindtree was ranked #1 under the categories "Best Managed IT/Software/Technology Company in Asia" and the "Best Managed Company in India" for 2013 by Euromoney’s Annual Asia Company Ranking.[48]
  • Mindtree wins the "Most Promising Company of the Year" Award from CNBC TV18 in 2013.[49]
  • Selected by Forbes Asia as one of the "200 Best Under A Billion companies" of 2012.[50]
  • Positioned as the third leading semiconductor R&D service provider in a survey conducted by Zinnov Management Consulting that covered India, China, Russia and Eastern Europe.
  • Texas Instruments 2008 Supplier Excellence Award – the first Indian company to win this award.[51]

See also[edit]

References[edit]

  1. ^ "Mindtree Leadership". 
  2. ^ "Mindtree Revenue" (PDF). 
  3. ^ "mindtree Operating Income" (PDF). 
  4. ^ "Mindtree profit" (PDF). 
  5. ^ "Shareholder report - Fourth quarter and year ended March 31, 2017" (PDF). 
  6. ^ "Q4 beats estimates; revenues grew 11.2% QoQ". www.mindtree.com. Retrieved 2017-04-26. 
  7. ^ "Mindtree Factsheet" (PDF). 
  8. ^ "Mindtree history". 
  9. ^ "History of Incorporation". Economic Times. 
  10. ^ "Mindtree history – Funding". 
  11. ^ "MindTree Consulting IPO to open on Feb 9". The Economic Times. 6 February 2007. 
  12. ^ "MindTree IPO subscribed 103 times". 
  13. ^ "MindTree Logo". 
  14. ^ "Mindtree Fact Sheet" (PDF). 
  15. ^ "Mindtree’s first U.S. delivery center". 
  16. ^ "Mindtree's Digital Pumpkin". 
  17. ^ "Mindtree’s Services". 
  18. ^ "Mindtree’s client focus". 
  19. ^ "Employee Metrics" (PDF). 
  20. ^ "Mindtree acquires ASAP Solutions". 
  21. ^ "Mindtree acquires Linc Software Services Pvt Ltd". 
  22. ^ "Mindtree acquires Indian Division of CoSystems". 
  23. ^ "Mindtree acquires TES-Purple Vision". 
  24. ^ "Mindtree acquires TES-Purple Vision". 
  25. ^ "Mindtree acquires Aztecsoft". 
  26. ^ "Mindtree acquires Aztecsoft". 
  27. ^ "Mindtree acquires Kyocera Wireless India Pvt Ltd". 
  28. ^ "Mindtree acquires Kyocera Wireless India Pvt Ltd". 
  29. ^ "Mindtree acquires 7Strata". 
  30. ^ "Mindtree acquires 7Strata". 
  31. ^ "Mindtree acquires Discoverture Solutions". 
  32. ^ a b Chandran, Pradeesh (2015-07-16). "Mindtree acquires UK, US based firms for Rs. 482 crore". The Hindu. ISSN 0971-751X. Retrieved 2015-07-16. 
  33. ^ "Mindtree to buy Magnet 360 for $50 mn- Business News". www.businesstoday.in. Retrieved 2016-01-18. 
  34. ^ "Mindtree Shanghai". 
  35. ^ "Mindtree Foundation". 
  36. ^ "Mindtree Foundation contribution". 
  37. ^ "Udaan". 
  38. ^ "I Got Garbage". 
  39. ^ "Mindtree ISR". 
  40. ^ "Mindtree named as 2016 Azure Innovation Partner of the Year by Microsoft". 
  41. ^ "Mindtree Named A Leader for Application Outsourcing by Forrester Research". 
  42. ^ "2016 New Jersey Corporate Culture Award by Smart CEO". 
  43. ^ "Mindtree is overall leader in software testing services by NelsonHall, (NEAT) Report 2016". 
  44. ^ "Mindtree named in Forbes India’s Super 50 2016 list for the second consecutive year". 
  45. ^ "Mindtree has been ranked in the NASSCOM Top 20 IT-BPM Employers in India FY2016 list". 
  46. ^ "Mindtree recognized as a Leader in IAOP’s 2016 Global Outsourcing 100 for global excellence". 
  47. ^ "Awards & achievements". 
  48. ^ "Mindtree Ranked #1 by Euromoney in the ‘Best Managed Company for 2013’ under Two Award Categories". 
  49. ^ "Mindtree Wins the 'Most Promising Company of the Year' Award From CNBC TV18". 
  50. ^ "Awards & achievements". 
  51. ^ "IT award for Mindtree". Archived from the original on December 11, 2013. 

External links[edit]