Mindtree

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Mindtree
Type Public
Traded as BSE: 532819; NSE: MINDTREE
Industry IT
Founded 18 August 1999
Key people Subroto Bagchi(Chairman)
Krishnakumar Natarajan(CEO)
Rostow Ravanan (CFO)
Revenue Increase$ 436 million USD (2013)
Net income Increase$ 62.5 million USD (2013)
Employees Increase12,992 (Dec 2013)[1]
Website www.mindtree.com

Mindtree is a information technology company with corporate headquarters in New Jersey, USA and Bangalore, India. Founded in 1999, the company employs over 13,000+ experts with annual revenue of USD 436+ million. Mindtree serves over 208 clients worldwide.[2]

History

In August 1999, Mindtree was co-founded by ten IT industry experts from Cambridge Technology Partners, Lucent Technologies, and Wipro.[3] 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.[4]

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.[5] The IPO was oversubscribed more than 100 times.[6] Subroto Bagchi, co-founder and chairman, has written about its history.[7]

Mindtree’s business is structured around clients in key verticals, such as manufacturing, retail travel and transportation. The company has business analysts, technology experts and services specialists engineering for clients across these verticals.[8]

Global presence

The company has 25 offices located across USA, Sweden, UK, Germany, France, Switzerland, Belgium, Australia, Singapore, China, UAE and India.[9] Mindtree setup its first US delivery center (USDC) in Gainesville, Florida under the leadership of Scott Staples, Co-founder and Global Head of Sales.[10]

Services and solutions

Mindtree's business is structured around clients in key verticals, such as BFSI, CPG, Manufacturing, Retail, Hi-Tech and Travel & Transportation.[11] The core services of the company are in the areas of Agile,[12] Digital,[13] Analytics,[14] Testing,[15] Infrastructure Management[16] and SAP.[17] Key solutions include:

  • Corporate lending solution - Automation of loan sourcing and exposure checks, periodic optimization of the loan organization process and data consolidation[18]
  • MindTest™ - An integrated testing methodology[19]
  • mPromo - A SaaS based solution to plan, execute, analyze and optimize trade promotion spend of CPG organizations[20]
  • MWatch - Integrated IT infrastructure management and secured service delivery platform[21]
  • VMUnify, enables organizations deliver infrastructure as a service[22]

Business responsibility

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.[23] Mindtree Foundation was officially incorporated on 20 November 2007 under section 25 of Companies Act.[24] Mindtree’s employees, assistive technologies and associations with NGOs help to provide:

  • Education to underprivileged children with a special emphasis on people with disability[25]
  • Relief of poverty by way of assistance to food, shelter and clothing[25]
  • Relief of distress caused by calamities of nature[25]

Mindtree Foundation is associated with:

  • Missionaries of Charity (M.O.C.)
  • Gandhiji Shanti Nivas Leprosy Rehabilitation Centre
  • Sparsh Foundation
  • Spastics Society of Karnataka (SSK)
  • Sikshana Educational Development program for rural government school children
  • AMBA Centers for Economic Empowerment of the Intellect

Mindtree mentions sustainability in its annual report.[26]

Awards

  • Awarded The Most Promising Company of the Year 2013 at CNBC-TV18 India Business Leader Awards 2013.[27]
  • Selected by WASL procurement team as 'Best Supplier in the IT- Software services Category' in December 2012.[28]
  • Selected by Forbes Asia as one of the ‘200 Best Under A Billion companies’ of 2012.[29]
  • 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.[28]
  • Ranked among the top five global R&D services providers in ‘Global R&D Services Providers 2012’ by Zinnov Consulting.[30]
  • 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.[31]
  • Texas Instruments 2008 Supplier Excellence Award – the first Indian company to win this award.[32]
  • ICSI National Award for Excellence in Corporate Governance, 2008.[33]
  • IBM Beacon Award 2008 for Overall Technical Excellence in Sales and Distribution – Asia Pacific.[34]
  • NASSCOM Innovation Award 2007 for knowledge management.[35]
  • Among the "Best Companies to Work for in 2005" in a Business Today-Mercer-TNS study.[36]
  • Among "Great Places to Work" for the second consecutive year in 2005 in a study conducted by Grow Talent Company and Business World.[37]
  • As one of the "Best Employers in India" for the second consecutive year in 2004 by Hewitt Associates.[38]
  • Youngest company to earn CRMM Level 3 certification.
  • Second in the Business Today—Mercer "Best Company to work for in India" for the second consecutive year in 2007.[39]

Acquisitions

Company name Year Business
ASAP Solutions[40] 2004 SAP implementation
Linc Software Services Pvt Ltd[41] 2005 Application development and maintenance domains for mid-range systems
CoSystems (Indian division) 2005 Telecom
TES-Purple Vision[42] 2007
Aztecsoft[43] 2008 Product engineering and testing services company. Aztecsoft acquired Disha Technologies a testing company in 2004
Kyocera Wireless India Pvt Ltd[44] 2009 Wireless services
7Strata[45] 2010 Remote infrastructure management services

See also

References

  1. ↑ http://articles.timesofindia.indiatimes.com/2014-01-17/software-services/46300153_1_net-profit-mindtree-ceo-fy-2013-14.  Missing or empty |title= (help)
  2. ↑ "Mindtree Reports Revenue Growth of 5.4% Q-o-Q and 15.6% Y-o-Y in Dollar Terms". 
  3. ↑ "Mindtree history". 
  4. ↑ "Mindtree history - Funding". 
  5. ↑ "MindTree Consulting IPO to open on Feb 9". 
  6. ↑ MindTree IPO subscribed 103 times 
  7. ↑ Making of Mindtree 
  8. ↑ Mindtree’s client focus 
  9. ↑ Mindtree's global offices 
  10. ↑ Mindtree’s first U.S. delivery center 
  11. ↑ Focus verticals 
  12. ↑ Agile 
  13. ↑ Digital business 
  14. ↑ Analytics and information management 
  15. ↑ Independent testing 
  16. ↑ Infrastructure management services 
  17. ↑ SAP services 
  18. ↑ Corporate lending solution 
  19. ↑ MindTest 
  20. ↑ mPromo 
  21. ↑ MWatch 
  22. ↑ VMUnify 
  23. ↑ Mindtree Foundation 
  24. ↑ Mindtree Foundation 
  25. ↑ 25.0 25.1 25.2 Mindtree Foundation 
  26. ↑ Annual Report, Mindtree, 24 June 2013, retrieved 27 November 2013 
  27. ↑ Awards & achievements 
  28. ↑ 28.0 28.1 Awards & achievements 
  29. ↑ Awards & achievements 
  30. ↑ Awards & achievements 
  31. ↑ Awards & achievements 
  32. ↑ IT award for Mindtree 
  33. ↑ Corporate governance awards for Mindtree 
  34. ↑ IBM Beacon 2008 Awards 
  35. ↑ Mindtree clinches Nasscom Innovation Award 2007 
  36. ↑ Mindtree Best Companies to Work for in 2005 in a Business Today-Mercer-TNS study 
  37. ↑ Mindtree - Best places to work 
  38. ↑ Mindtree - Best places to work 
  39. ↑ Best Companies to work for in India 
  40. ↑ Mindtree acquires ASAP Solutions 
  41. ↑ Mindtree acquires Linc Software Services Pvt Ltd 
  42. ↑ Mindtree acquires TES-Purple Vision 
  43. ↑ Mindtree acquires Aztecsoft 
  44. ↑ Mindtree acquires Kyocera Wireless India Pvt Ltd 
  45. ↑ Mindtree acquires 7Strata 

External links

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