MindTree
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| MindTree Consulting Ltd. | |
| Type of Company | Private |
|---|---|
| Founded | August 18, 1999 |
| Headquarters |  Bangalore, India |
| Key people | Ashok Soota, Chairman and MD Subroto Bagchi, COO Krishnakumar Natarajan, President IT Services S Janakiraman, President, R&D Services |
| Industry | Computer Services |
| Revenue |  $102 million USD |
| Employees | ~4000 (2006) |
| Slogan | Imagine Do Enjoy |
| Website | www.mindtree.com |
MindTree Consulting Limited is an international IT consulting company that was started in 1999 by 10 industry professionals who came from Cambridge Technology Partners, Lucent Technologies and Wipro. Currently headquartered in Bangalore, India, it has 3 development centers in India and 15 offices spread across Asia, Europe and the United States. The founding team was led by Ashok Soota, who was at that time vice chairman and president of Wipro, one of India's largest software companies. The company has more than 4000 employees.
MindTree crossed USD 100 million in revenues in April 2006[1]; the fastest Indian IT company to achieve the target. MindTree is also the world's youngest company to be assessed at both CMMi and P-CMM.
MindTree has been involved in the creation of Bluetooth technology [2] and is an Associate Member of the Bluetooth Special Interest Group [3]. Their Bluetooth protocol stack is licenced to NEC [4]. MindTree is slated to go public [5]in the first quarter of next year.
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[edit] History
MindTree was started by 7 leaders in the Indian IT business and 3 leaders in American IT business, including Scott Staples who now heads MindTree's US operations. They started with a funding of 9.1 million dollars from two Venture Capital firms Walden Interntational and Sivan Securities[6]. Initially starting as a pure-play e-business consulting and technology company, MindTree had to expand its offerings to include IT and R&D services during the down-turn following September 11. The company obtained a second round of funding for 14.1 million dollars in August 2001 from the Capital Group, and Franklin Templeton apart from the initial VCs.
[edit] Awards
MindTree has been ranked:
- Fifth on the list of Top 10 Most Admired Knowledge Enterprises (MAKE) in India based on an annual study conducted by Teleos and the Know Network [7]
- Among the "Best Companies to Work for in 2005" in the Business Today-Mercer-TNS study
- Among "Great Places to Work" for the second consecutive year in 2005 in a study conducted by Grow Talent Company and Business World
- As one of the "Best Employers in India" for the second consecutive year in 2004 by Hewitt Associates
- Second in the Business Today -- Mercer "Best Company to work for in India" in 2006 [8]
[edit] Logo
MindTree’s logo was created by a student who has cerebral palsy. The MindTree team interacted with a group of ten students at the Spastics Society of Karnataka that runs a school for children with cerebral palsy - many in wheel chairs, and briefed them on MindTree’s Mission, Vision, and Core Values.
Subsequently, over several sessions, the team explained to them some basic concepts behind graphic design and asked them to interpret several known international logos. All ten students turned in their version of MindTree’s logo. MindTree decided to adopt the work of Chetan K.S., a student who has motor and speech disability. The decisive skyward, blue brush stroke is Chetan's way of communicating imagination. The red stands for action. Finally, the bright yellow bubbles represent joy.
[edit] Integrity Policy
MindTree has published its integrity policy as well as instances when it fired employees for breaching the policy.
[edit] Offices and Locations
Besides its headquarters in Bangalore, MindTree also has a development centre in Chennai[9], and offices in New Delhi, Santa Clara, Warren, Schaumburg, McLean, Denver, Hayes, Frankfurt, Singapore, Tokyo, Sharjah, Miami and Sydney.
[edit] Profit Centers
IT Services
- Key Industries -
- Travel & Leisure
- Manufacturing (CPG, Automotive and Pharma)
- Financial Services
R&D Services
- Markets -
- Communications
- Computing Systems
- Storage Systems
- Consumer Appliance
- Industrial Systems
- Semiconductor
- Licensable IP Offerings -
- Bluetooth (Software Stack and Baseband)
[edit] Acquistions
1) Acquired NOIDA based ASAP soultions in 2004 for all cash deal
2) Acquired Bangalore based Linc Software Services Pvt Ltd. in 2005 for stock and cash
3) Acquired Indian division of cosystems for all cash deal
[edit] IPO details
MindTree Consulting has filed its draft red herring propectus with the Securities and Exchange Board of India (Sebi) for its initial public offer (IPO)on December 12, 2006. It plans to offer 5,593,300 equity shares of Rs 10 each.[10]
[edit] References
- ^ "MindTree posts $102-m revenue", Business line, The Hindu, 2006-04-03. Retrieved on 2006-07-05.
- ^ Roy, Shubhrangshu. "MindTree's R&D reaches new heights", The Economic Times, 2004-12-03. Retrieved on 2006-07-05.
- ^ Bluetooth SIG Associate Members (2006). Retrieved on 2006-07-05.
- ^ Ribeiro, John. "NEC licenses Bluetooth from Indian company", InfoWorld, 2005-12-14. Retrieved on 2006-07-05.
- ^ "Mindtree Consulting to go public", CNBC, 2006-07-15. Retrieved on 2006-07-16.
- ^ Saxena, Neeraj. "Soota reflects infotech sector at CII", Times of India, 2002-04-28. Retrieved on 2006-07-05.
- ^ "Mindtree Wins Knowledge Enterprise Award", SDA Asia Magazine, 2006-10-09. Retrieved on 2006-11-10.
- ^ "Indian Companies Emerge at the Top of the Business Today -- Mercer Human Resource Consulting Best Companies to Work For In India 2006 Rankings", IndiaPRwire, 2006-11-09. Retrieved on 2006-11-16.
- ^ "MindTree plans development centre in Chennai", Business line, The Hindu, 2006-04-08. Retrieved on 2006-07-05.
- ^ "MindTree files for IPO, Soota’s stake to fall", Times News Network, 2006-12-12. Retrieved on 2006-12-12.
