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Mindtree

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Mindtree

Mindtree is a multinational information technology and outsourcing company headquartered in Bengaluru, India and New Jersey. Founded in 1999, the company employs approximately 15,000+ employees with annual revenue of $600+ million.[1] The company deals in e-commerce, mobile applications, cloud computing, digital transformation, business intelligence, data analytics, testing, Agile software development, infrastructure, EAI and ERP, with more than 2rowth-5-130416930.html|title=Mindtree orts, Lucent Technologies, and Wipro.[7]

Contents

  • History 1
  • Services 2
  • Employee Metrics 3
  • Acquisitions 4
  • Subsidiaries 5
  • Philanthropy 6
  • Awards and recognition 7
  • See also 8
  • References 9
  • External links 10

History

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.[8] It was funded by the venture capital firms Walden International and Sivan Securities, and later in 2001 from the Capital Group and Franklin Templeton.[9]

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] Subroto Bagchi, co-founder and chairman, has written about its history.[13]

Mindtree announced a new brand identity and logo, with the slogan "Welcome to possible" on September 28, 2012.[14]

Mindtree Chennai at Ramanujan IT City Sez

As of 2012 the company had 28 offices in 14 countries.[15][16] 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.[17]

Digital Pumpkin, the company's research and development lab, is at Bengaluru, India[18]

Services

The company specialize in Application Development and Maintenance, Data Analytic, 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.[19]

Mindtree Digital Services Business group has more than 75 active clients and employs approximately 3000 employees with annual revenue of $100 million.

It deals in :

  • Digital marketing IT operations
  • Omnichannel retail enablement
  • Employee and channel collaboration
  • Data management, business intelligence, and analytics
  • Decision science for CSO/CMO
  • Big data platform
  • 360-degree view of consumer/traveler

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.[20][21][22]

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.[23]

Employee Metrics

Mindtree has a total of 15,582 employees as of September 2015, of which 28% were women. Its workforce consists of employees representing 39 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.[24]

Acquisitions

Name Acquisition date Activities Country of HQ Price Employees
(at acquisition)
Reference
ASAP Solutions 2004 SAP & ERP India & USA NA 120 [25]
Linc Software Services Pvt Ltd 2005 Application development and Maintenance domains for Mid-Range Systems India $7 million 220 [26]
CoSystems 2005 Telecom (Captive Development Center – Indian division) USA 10 million 20 [27]
TES-Purple Vision 2007 Electronics(IC Design). Indian Division. Subsidiary of TES Electronic Solutions SA. France $6.55 million 150 [28][29]
Aztecsoft 2008 Product engineering and Testing services company. Aztecsoft acquired Disha Technologies a testing company in 2004 India 40 million 2200 [30][31]
Kyocera Wireless India Pvt Ltd 2009 Wireless services. Indian R&D Division Japan $6 million 600 [32][33]
7Strata 2010 Remote infrastructure management services India 7.2 million 90 [34][35]
Discoverture Solutions LLC Jan 2015 Property and Casualty Insurance USA $15 million 300 [36]
Bluefin Solutions Limited July 2015 IT solutions, SAP HANA solutions United Kingdom £42.3 million [38]
Relational Solutions Inc July 2015 IT solutions — CPG USA $10 million [38]

Subsidiaries

Name Location Type Industry
Mindtree Software (Shanghai) Co. Ltd[39] Shanghai, China Owned IT
Mindtree Wireless[40] Bangalore, India Owned Wireless Products and Services
Nuvepro[41] Bengaluru, India Independent. Incubated at Mindtree Cloud Computing – VMUnify

Philanthropy

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.[42] Mindtree Foundation was incorporated on 20 November 2007 under section 25 of Companies Act.

Mindtree’s employees, assistive technologies and associations with NGOs help to provide:[43]

  • Launched 'Udaan' ,a scholarship program to support the medical education of underprivileged students in association with Narayana Hrudayalaya Charitable Trust.[44]
  • 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.[45]
  • 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.[46]
  • Education to underprivileged children with a special emphasis on people with disability
  • Relief of poverty by way of assistance to food, shelter and clothing
  • Relief of distress caused by natural calamities of nature

Mindtree Foundation is associated with:[47]

  • Missionaries of Charity (M.O.C.)
  • Gandhiji Shanti Nivas Leprosy Rehabilitation Center
  • Sparsh Foundation
  • Spastics Society of Karnataka (SSK)
  • Sikshana Educational Development program
  • Rural Government School Children
  • AMBA Centers for Economic Empowerment of the Intellect

Awards and recognition

  • Microsoft names Mindtree their “Top Emerging Azure Partner for 2015”
  • Mindtree cited as a Major Contender and Star Performer in the Everest Group 2015 PEAK Matrix for Independent testing services.
  • Mindtree named in Forbes India’s first ever Super 50 list based on consistent shareholder returns, sales growth and return on equity.
  • Rostow Ravanan, CFO, Mindtree, awarded the Best CFO under the Consistent Liquidity Management (Medium) category by the 5th Business Today- Yes Bank Best CFO Awards 2014.
  • Mindtree named a Leader in Zinnov's Global R&D Service Provider Ratings for the Third Year in a Row in 2014.[48]
  • 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.[49]
  • Mindtree wins the "Most Promising Company of the Year" Award from CNBC TV18 in 2013.[50]
  • Selected by WASL procurement team as "Best Supplier in IT – Software services Category" in December 2012.[51]
  • Selected by Forbes Asia as one of the "200 Best Under A Billion companies" of 2012.[52]
  • 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.[51]
  • Named among the top ten providers of outsourcing/IT integration services to the consumer goods industry in Consumer Goods Technology’s (CGT) 2011 Readers’ Choice Survey.[53]
  • Texas Instruments 2008 Supplier Excellence Award – the first Indian company to win this award.[54]

See also

References

  1. ^
  2. ^
  3. ^ Müller-Wiener (1977), p. 112.
  4. ^ Magdalino, Paul, et al. "Istanbul: Buildings, Hagia Sophia" in Grove Art Online. Oxford Art Online. http://www.oxfordartonline.com accessed 28 February 2010.
  5. ^ a b Janin (1953), p. 471.
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External links

  • Mindtree Website
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