Mastek

Mastek Limited
Public
Traded as BSE: 523704; NSE: MASTEK
Industry SoftwareInformation technology
Founded May 1982
Founders Sudhakar Ram, Ashank Desai, Ketan Mehta, R. Sundar
Headquarters Mumbai, India
Number of locations
 India (6 centres) United Kingdom (3 centers) United States (2 centers)
Key people
 John Owen (Group CEO), Prahlad Koti (UK MD)
Services Agile Consulting Application Support and Maintenance Digital Commerce Application Development Business Intelligence Assurance & Testing
Revenue $82 million(in FY 2015-16)
Number of employees
 1600 +
Subsidiaries
  • Digility INC [www.digility.com]
  • Taistech [www.taistech.com ]
  • Indigoblue Consulting [www.indigoblue.com ]
Website Official Website

Mastek Limited (BSE: 523704) is a global IT technology business enabling enterprises to deliver complex digital transformation solutions. Amongst the pioneering IT technology providers in India, the Mastek Group employs 1500+ professionals. It has a global headquarter in Mumbai, India with further offices spread across the United Kingdom and the United States, and an additional six global delivery centres in India. Mastek’s core experience involves designing, building and managing bespoke enterprise application solutions for over 100 clients across the public and private sectors.

History

Mastek (Management and Software Technologies) was founded in May 1982[1] by Ashank Desai, Ketan Mehta and R. Sundar.[2] They were later joined by Sudhakar Ram. Sudhakar held the role of Group CEO of the company until late 2016 when John Owen joined the business and took over as the Group CEO. Sudhakar now operates as the Vice Chairman and Managing Director of the Mastek Group.

The company was among the first ones in India to create software products. Mastek USA was established in 1992. Mastek became the first company to develop Enterprise Resource Planning (ERP) in India and also the first Indian IT company that got listed at premium price. Mastek UK was established in 1992 and two years later, in 1994, Mastek set up its subsidiary in Malaysia.[3] In 2007, it ranked 11th among the leaders of Global Outsourcing 100 Companies by the International Association of Outsourcing Professionals published in Fortune magazine (April 2007) – Recognition for ‘Methodologies and Innovation’ adopted by Mastek. In 2008, Mastek Limited bought Systems Task Group (STG), an international provider of enterprise solutions for the property and casualty (P&C) insurance industry, in an all-cash consideration of $29 million (Rs. 116 crore). In 2010, Mastek acquired Kognitio Data Migration Offering and also the assets of SEG Software, LLC.[4][5][6]

Mastek Ltd

In September 2014, Mastek decided to split into two companies. Majesco that will handle the insurance business and Mastek that will take care of solutions business.

In May 2015, Mastek acquired IndigoBlue Consulting, specialists in agile and digital transformation consulting. This has strengthened Mastek’s consulting capability, enabling end-to-end digital strategy design and implementation.

In 2016, Mastek established Digility Inc. to extend its core technology solutions across US private sector customers.

In Jan 2017, Digility acquired TAISTech, a digital commerce services leader providing strategic consulting, large scale commerce implementations and support for the Oracle Commerce and Oracle Commerce Cloud applications.

External Links: Google Finance Yahoo Finance G-Cloud List of Indian IT companies List of Indian IT companies

See also

Corporate Social Responsibility

The Mastek Foundation was established in 2005 to provide financial and practical support to disadvantaged communities in India. The core purpose of the Foundation is to: • Inspire Mastek employees to take an active role in supporting struggling communities in India • Help NGOs to scale and build their technology capabilities. The causes Mastek Supports cover: • Education • Health • Women empowerment • Sustainability

References

  1. ↑ "Mastek limited [MASTEKs] History". Source2update.com. Retrieved 2010-07-16.
  2. ↑ Mastek Quick Facts
  3. ↑ "Mastek History". Retrieved 2014-09-12.
  4. ↑ "Company History — Mastek Ltd.". The Economic Times. Retrieved 2014-09-12.
  5. ↑ "Mastek Acquires Kognitio Data Migration Offering". Money Control. Retrieved 2014-09-12.
  6. ↑ "Mastek Ltd. History". NDTV Profit. Retrieved 2014-09-12.
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