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'''Mindtree |
'''Mindtree''', is a global [[information technology]] solutions 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 435+ million. Mindtree serves over 220 clients worldwide which includes ~40 [[Fortune 500]] enterprises. |
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Mindtree surpassed USD 435 million in revenues in April 2013. <ref>{{Cite |url = http://www.mindtree.com/company/investors/annual-report-2012-13 |title = Annual Report 2012-13 }}</ref> |
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Mindtree has delivered 16 consecutive quarters of revenue growth. |
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Mindtree was involved in the creation of [[Bluetooth]] technology<ref>{{Cite news |first = Shubhrangshu |last = Roy |url = http://economictimes.indiatimes.com/articleshow/944314.cms |title = Mindtree's R&D reaches new heights |work = [[The Economic Times]] |date = 2004-12-03 |accessdate = 2006-07-05}} {{Dead link|date=October 2010|bot=H3llBot}}</ref> and is an Associate Member of the [[Bluetooth Special Interest Group]].<ref>{{Cite web| url = http://bluetooth.com/Templates/MT5_MemberDirectoryAssociate.aspx?NRMODE=Published&NRORIGINALURL=%2fBluetooth%2fSIG%2fDirectory%2fAssociates%2f&NRNODEGUID=%7bDA34AEC7-2F5D-44E1-998B-EFF58F3320B0%7d&NRCACHEHINT=NoModifyGuest%5D| title = Bluetooth SIG Associate Members| accessdate = 2006-07-05 | year = 2006 }} {{Dead link|date=October 2010|bot=H3llBot}}</ref> Its Bluetooth [[protocol stack]] is licenced to [[NEC]].<ref>{{Cite news|first = John |last = Ribeiro |url = http://www.infoworld.com/article/05/12/14/HNneclicensesbluetooth_1.html?WIRELESS%20STANDARDS |title = NEC licenses Bluetooth from Indian company |work = [[InfoWorld]] |date = 2005-12-14 |accessdate = 2006-07-05}} |
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</ref> |
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During the first quarter of the 2010–11 fiscal year MindTree provided application development, maintenance, and support services for the Government of India's Unique Identification (UID) project, called [[Unique Identification Authority of India|Aadhaar]].<ref>{{Cite news|url = http://www.mindtree.com/company/news/press-release/mindtree-awarded-first-it-deal-aadhaar|title = Mindtree News}}</ref> |
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==History== |
==History== |
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In August 1999, Mindtree was co-founded by ten global IT industry experts from [[Cambridge Technology Partners]], [[Lucent Technologies]], and [[Wipro]]. The founder’s vision was to create a memorable, value-based and a socially sensetive company that delivers knowledge enabled software. Mindtree started with the support and funding from leading venture capital firms, such as Walden International and Sivan Securities and later in 2001 from the [[Capital Group]] and [[Franklin Templeton]]. |
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Mindtree was started by seven Indian businessmen in IT –and three American IT professionals – Anjan Lahiri, Scott Staples, and Kamran Ozair. Staples now heads Mindtree's US operations. They started with a funding of $9.1 million from two [[venture capital]] firms, Walden International and Sivan Securities.<ref>{{Cite news|first = Neeraj |last = Saxena |url = http://www1.timesofindia.indiatimes.com/articleshow.cms?art_id=8273131 |title = Soota reflects infotech sector at CII |work = [[Times of India]] |date = 2002-04-28 |accessdate = 2006-07-05 }}</ref> The company obtained an additional $14.1 million of funding from the [[Capital Group]] and [[Franklin Templeton]] in August 2001. Mindtree expanded its offerings to include IT and R&D services during the down-turn following the [[September 11 attacks]]. |
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Mindtree started as a consulting organization focusing on [[Internet technologies]]. The sudden turn of events during September 11, 2001 attacks in WTC, US and subsequent economic downturn made the company to expand its offerings into the information technology services. Mindtree adapted to the market situation and the leadership ensured that the company and its trusted clients came out of these situations unscathed. |
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Mindtree went public in December 2006. The [[initial public offering]] price band was fixed for Rs. 365 to Rs. 425. Mindtree was listed the [[Bombay Stock Exchange]] on 7 March at more than Rs. 600 and crossed Rs. 1000 within a few days. Mindtree was oversubscribed more than 100 times. However, the recession in the US in 2008 resulted in IT shares going down, including those of Mindtree. |
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Mindtree went public in December 2006 and was listed on Bombay Stock Exchange and National Stock Exchange. [[Aztecsoft]] and [[7Strata]] were some of the key acquisitions of Mindtree. |
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Acquisitions include Aztecsoft in 2008 at an equity valuation of USD $90 million and TES-Purple Vision in 2007 for USD $6.55 million.<ref>{{Cite news|url = http://www.eetindia.co.in/ART_8800489394_1800000_NT_9316c414.HTM|title = Mindtree acquires TES-Purple Vision}}</ref> In September 2009, Mindtree acquired the Indian arm of Kyocera Wireless, Kyocera Wireless India Pvt Ltd, for USD $6 million.<ref>[http://in.reuters.com/article/indiaDeals/idINIndia-42772720090929 Mindtree buys Kyocera Wireless India]</ref> In 2010 Mindtree acquired the remote infrastructure management services provider 7Strata for Rs7.2 crore in cash.<ref>{{Cite news|url = http://www.livemint.com/2010/04/22200048/Mindtree-to-acquire-7Strata-fo.html|title = Mindtree to acquire 7Strata for Rs 7.2 cr}}</ref> Mindtree reported revenues of USD $272 million in 2010, and has set an aggressive target of reaching $1 billion by 2014. |
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Subroto Bagchi, Co-Founder and Chairman has penned a detailed version of Mindtree’s history.<ref>{{Cite |url = http://www.mindtree.com/company/news/media-kit/making-of-mindtree |title = Making of Mindtree }}</ref> |
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In January 2011, [[Ashok Soota]] announced his resignation to the board. In a press release, Soota indicated that he planned to start a new business venture. |
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==Offices== |
==Offices== |
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Mindtree's regional headquarters are in Bangalore, London, and Warren, New Jersey. |
Mindtree's regional headquarters are in Bangalore, London, and Warren, [[New Jersey]]. |
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Mindtree has a development center at Gainesville, Florida, at the [[University of Florida]]. Mindtree opened a delivery center in Belgium, the second offshore delivery center of Mindtree. |
Mindtree has a development center at Gainesville, Florida, at the [[University of Florida]]. Mindtree opened a delivery center in Belgium, the second offshore delivery center of Mindtree. |
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It also has 26 sales offices. |
It also has 26 sales offices. |
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==Global delivery== |
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Mindtree serves its clients worldwide through its global delivery centers in [[Gainesville]] & [[Seattle]] - US, [[Deigem]] - Belgium, and Bangalore / [[Chennai]] / [[Pune]] / [[Hyderabad]] - India. Mindtree, which started as a Bangalore, India centric company today hosts employees with diverse nationalities, cultures and technical skills. In 2011 the company defined its new strategy of staying closer to the clients. As part of its global vision, Mindtree setup its first US delivery center (USDC) in Gainesville, Florida under the leadership of Scott Staples, Co-founder and Global Head of Sales. This center has a [[state-of-the-art]] facility designed for [[agile development]] and digital expertise. Mindtree, through this center, is delivering a right-sourcing approach with a combination of expertise with the right delivery options for each of its clients. |
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The company has 28 offices located across USA, [[Sweden]], [[UK]], [[Germany]], [[France]], [[Switzerland]], [[Belgium]], [[Australia]], [[Singapore]], [[China]], [[UAE]] and India. |
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==Client focus== |
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Mindtree’s business is structured around clients in key verticals, such as [[BFSI]], [[CPG]], [[Manufacturing]], [[Retail]], [[Hi-Tech]] and [[Travel & Transportation]]. The company has business analysts, technology experts and services specialists engineering solutions for clients across these verticals. Mindtree works with most of the top 10 enterprises in each vertical as their strategic partner. Some of the relationships are over 15 years long. |
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==Services and solutions== |
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The services and solutions work as horizontals that are aligned with a specific vertical. The core services of the company are in the areas of Agile, Digital, Analytics, Testing, Infrastructure Management and SAP. Similarly, the technology experts in the areas of Mobile, DW / BI, Mobile and Cloud engineer technology solutions and IPs that are domain specific. |
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Key solutions include: |
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* Corporate lending solution - Enabling high volume, high value business through automation. |
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* MindTest™ - Delivering predictable quality through integrated quality assurance platform. |
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* mPromo – An award winning SaaS based solution to plan, execute, analyze and optimize trade promotion spend of CPG organizations. |
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* MWatch - Integrated IT infrastructure management and secured service delivery platform. |
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* VMUnify, enables organizations deliver infrastructure as a service with secure virtual data centers and unified cloud environments. |
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==Acquisitions== |
==Acquisitions== |
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{| class="wikitable" |
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* [[New Okhla Industrial Development Authority|NOIDA]] based ASAP Solutions (2004) |
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|- |
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* [[Bangalore]] based Linc Software Services Pvt Ltd (2005) for stock and cash |
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! Company name |
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* Acquired Indian division of [[Cosystems]] |
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! Year |
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* TES-Purple Vision (December 2007) |
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! Business |
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* Acquired majority equity interest in Aztecsoft (2008)<ref>{{Cite news|url = http://www.przoom.com/news/33764/ |title = Mindtree to Acquire Majority Equity Interest in Aztecsoft}}.</ref> |
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|- |
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:* Aztecsoft had also acquired Disha Technologies for $12.1 million (2004)<ref>{{Cite news|url = http://www.accessmylibrary.com/coms2/summary_0286-13431921_ITM |title = INDIA'S AZTEC SOFTWARE ACQUIRES DISHA FOR US$12.1 MLN.}}</ref> |
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| ASAP Solutions |
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* [[Bangalore]] based Kyocera Wireless (India) Pvt Ltd. (2009)<ref>{{cite news|url=http://www.business-standard.com/india/news/Mindtree-to-acquire-kyocera-wireless-subsidiary-in-india/371712/|accessdate=29 December 2011|newspaper=Business Standard|date=September 30, 2009|title = Mindtree to acquire Kyocera Wireless' subsidiary in India}}</ref> |
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| 2004 |
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* [[Chennai]] based 7Strata: Remote IT Infrastructure Management Services |
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| SAP implementation |
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|- |
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| Linc Software Services Pvt Ltd |
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| 2005 |
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| Application development and maintenance domains for mid-range systems |
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|- |
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| CoSystems (Indian division) |
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| 2005 |
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| Telecom |
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|- |
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| TES-Purple Vision |
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| 2007 |
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| |
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|- |
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| Aztecsoft |
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| 2008 |
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| Product engineering and testing services company. Aztecsoft acquired Disha Technologies a testing company in 2004 |
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|- |
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| Kyocera Wireless India Pvt Ltd |
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| 2009 |
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| Wireless services |
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|- |
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| 7Strata |
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| 2010 |
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| Remote infrastructure management services |
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|} |
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==IPO details== |
==IPO details== |
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Mindtree went public on December 12, 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. The IPO was oversubscribed more than 100 times. |
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Mindtree Consulting filed its draft prospectus with the [[Securities and Exchange Board of India]] for its initial public offering (IPO) on 12 December 2006. It offered 5,593,300 equity shares at Rs 10 each.<ref>{{Cite news|url = http://economictimes.indiatimes.com/articleshow/780330.cms |title = Mindtree files for IPO, Soota’s stake to fall |work = [[Times News Network]] |date = 2006-12-12 |accessdate = 2006-12-12 }}</ref> |
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==Business responsibility== |
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The IPO opened on 9 February 2007 and closed on 14 February 2007. The price band fixed was Rs. 365 to Rs. 425.<ref>{{Cite news|url= http://in.tech.yahoo.com/070201/137/6bp09.html |title= Mindtree sets IPO price band of 365–425 rupees|date=2007-02-01|accessdate = 2006-02-01}}</ref> The IPO was oversubscribed more than 100 times.<ref>{{Cite news|url= http://www.moneycontrol.com/india/news/ipoissuesopen/Mindtreeconsultinginitialpublicoffering/Mindtreeipoover/market/stocks/article/267149|title= Mindtree IPO oversubscribed 103.28 times |work = [[CNBC-TV18|Moneycontrol]]|date=2007-02-14|accessdate = 2006-02-14}}</ref> |
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Mindtree Foundation<ref>{{Cite |url = http://www.mindtreefoundation.org/ |title = Mindtree Foundation }}</ref> 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. Mindtree Foundation was officially incorporated on 20th November 2007 under section 25 of Companies Act. |
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Mindtree’s employees, assistive technologies and associations with NGOs help to provide: |
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* Education to underprivileged children with a special emphasis on people with disability |
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* Relief of poverty by way of assistance to food, shelter and clothing |
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* Relief of distress caused by calamities of nature |
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Mindtree Foundation is associated with: |
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Mindtree was listed at more than Rs. 600/- on 7 March 2007.<ref>{{Cite news|url= http://news.moneycontrol.com/india/news/iponewlistings/Mindtreeconsultingipo/Mindtreeconsult/market/stocks/article/270245 |title= Mindtree Consulting debuts with 47.5% premium |date=2007-03-07|accessdate = 2006-03-07}} {{Dead link|date=October 2010|bot=H3llBot}}.</ref> |
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* [[Missionaries of Charity]] (M.O.C.) |
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* Gandhiji Shanti Nivas Leprosy Rehabilitation Centre |
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* Sparsh Foundation |
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* Spastics Society of Karnataka (SSK) |
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* Sikshana Educational Development program for |
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* Rural Government School Children |
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* AMBA Centers for Economic Empowerment of the Intellect |
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==Sustainability== |
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Shares of Mindtree hit a high of Rs 1,453.55 on 19 November 2013. <ref>{{Cite news|url= http://www.moneycontrol.com/news/buzzing-stocks/mindtree-at-life-high35ropingtop-executives_992755.html?utm_source=ref_article|title= Mindtree at life high, up 3.5% on roping in top executives }} </ref> |
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Mindtree’s sustainability <ref>{{Cite |url = http://www.mindtree.com/downloads/Mindtree_Annual_Report_2012-2013.pdf |title = Mindtree Sustainability Report }}</ref> approach is built on the principles of triple bottom line i.e. People, Planet and Profit. Through this, the company aims to measure the traditional economic parameters along with the environmental and social dimensions. |
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Mindtree’s sustainability framework is built on three pillars: |
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* Ecological sustainability |
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* Governance and control |
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* Workplace sustainability |
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==Awards== |
==Awards & recognition== |
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* Mindtree Wins Gainesville Chamber Business of the Year Award for its Innovative Practices |
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*Mindtree was selected by Microsoft Corporation as a Windows Azure Circle Partner, Windows Azure. |
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* Mindtree wins two awards at the SAPTech Ed for its innovative SAP and mobile solutions – mInspect and mPromo |
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*Selected by WASL procurement team as 'Best Supplier in the IT- Software services Category' in December 2012.<ref>{{Cite news|url =http://www.mindtree.com/company/awards-and-achievements |title = Awards and achievements}}</ref> |
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* Mindtree has been selected by Microsoft Corporation (NASDAQ - MSFT) as a Windows Azure Circle Partner. This elite program is reserved for Microsoft’s partners who have achieved success in delivering Windows Azure based solutions. |
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*Selected by Forbes Asia as one of the ‘200 Best Under A Billion companies’ of 2012.<ref>{{Cite news|url =http://www.mindtree.com/company/awards-and-achievements |title = Awards and achievements}}</ref> |
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* |
* Selected by WASL procurement team as 'Best Supplier in the IT- Software services Category' in December 2012. This award is an endorsement of all the hard work the SAP practice, IG has put in over the years to make various projects a success.<ref>{{Cite |url = http://www.mindtree.com/company/awards-and-achievements |title = Awards & achievements }}</ref> |
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* |
* Selected by Forbes Asia as one of the ‘200 Best Under A Billion companies’ of 2012. From a list of 15,000 companies, the screening was done based on sales growth, earnings growth and return on equity in the past 12 months and over three years.<ref>{{Cite |url = http://www.mindtree.com/company/awards-and-achievements |title = Awards & achievements }}</ref> |
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* |
* 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.<ref>{{Cite |url = http://www.mindtree.com/company/awards-and-achievements |title = Awards & achievements }}</ref> |
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* Ranked among the top five global R&D services providers in ‘Global R&D Services Providers 2012’ by Zinnov Consulting.<ref>{{Cite |url = http://www.mindtree.com/company/awards-and-achievements |title = Awards & achievements }}</ref> |
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* Mindtree won the NASSCOM IT User award 2012 under ‘Social Media Adoption in an Enterprise’ category for its intranet application - ‘PeopleHub’. |
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* Selected by Forbes Asia as one of the ‘200 Best Under A Billion companies’ of 2012. From a list of 15,000 companies, the screening was done based on sales growth, earnings growth and return on equity in the past 12 months and over three years. |
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* 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. The firm was chosen by CGT’s subscriber base as one of their most valued and used, solution and service providers.<ref>{{Cite |url = http://www.mindtree.com/company/awards-and-achievements |title = Awards & achievements }}</ref> |
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* Mindtree bagged the NASSCOM IT User award 2012 under ‘Social Media Adoption in an Enterprise’ category for its intranet application - ‘PeopleHub’. |
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* Mindtree was awarded the “Best Corporate Governance, India, 2012” by World Finance magazine |
* Mindtree was awarded the “Best Corporate Governance, India, 2012” by World Finance magazine |
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* Mindtree won the 2nd Runner-up in the People’s Green Award category as part of the TCS World 10K Marathon that was held in Bangalore recently. This award |
* Mindtree has won the 2nd Runner-up in the People’s Green Award category as part of the TCS World 10K Marathon that was held in Bangalore recently. This award is for Companies and Corporate Foundations contributing to the environmental causes without seeking any monetary gains. |
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* |
* Texas Instruments 2008 Supplier Excellence Award – the first Indian company to win this award.<ref>{{Cite |url = http://www.pr-inside.com/Mindtree-becomes-first-indian-company-to-r1172602.htm |title = IT award for Mindtree }}</ref> |
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* ICSI National Award for Excellence in Corporate Governance, 2008<ref>{{Cite |
* ICSI National Award for Excellence in Corporate Governance, 2008.<ref>{{Cite |url = http://www.hindu.com/2008/12/31/stories/2008123155601500.htm |title = The Hindu: Business / Briefly: Award for Mindtree }}</ref> |
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* IBM Beacon Award 2008 for Overall Technical Excellence in Sales and Distribution – Asia Pacific<ref>{{Cite |
* IBM Beacon Award 2008 for Overall Technical Excellence in Sales and Distribution – Asia Pacific.<ref>{{Cite |url = http://www-03.ibm.com/press/us/en/pressrelease/23819.wss |title = IBM Beacon 2008 Awards }}</ref> |
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* |
* NASSCOM Innovation Award 2007 for knowledge management.<ref>{{Cite |url = http://www.efytimes.com/efytimes/24747/news.htm |title = Mindtree clinches Nasscom Innovation Award 2007 }}</ref> |
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* Among the "Best Companies to Work for in 2005" in a |
* Among the "Best Companies to Work for in 2005" in a Business Today-Mercer-TNS study. |
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* Among "Great Places to Work" for |
* Among "Great Places to Work" for the second consecutive year in 2005 in a study conducted by Grow Talent Company and Business World. |
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* As one of the "Best Employers in India" for |
* As one of the "Best Employers in India" for the second consecutive year in 2004 by Hewitt Associates. |
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* Youngest company to earn CRMM Level 3 certification. |
* Youngest company to earn CRMM Level 3 certification. |
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* Second in the Business Today—Mercer "Best Company to work for in India" for |
* Second in the Business Today—Mercer "Best Company to work for in India" for the second consecutive year in 2007.<ref>{{Cite |url = http://www.indiaprwire.com/pressrelease/other/20061109991.htm |title = Indian Companies Emerge at the Top of the Business Today – Mercer Human Resource Consulting Best Companies to Work For In India Rankings consecutively for 2006 and 2007 }}</ref> |
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* Leader-Human Capital Development – "Global Services 100" – Source CMP-CyberMedia. |
* Leader-Human Capital Development – "Global Services 100" – Source CMP-CyberMedia. |
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* Asia’s Most Admired Knowledge Enterprise (MAKE) winner for the fourth consecutive year in 2011. It won the Global MAKE award for the second year in a row in 2011 and is ranked second in the Indian MAKE award instituted by Teleos in association with The KNOW Network. |
* Asia’s Most Admired Knowledge Enterprise (MAKE) winner for the fourth consecutive year in 2011. It won the Global MAKE award for the second year in a row in 2011 and is ranked second in the Indian MAKE award instituted by Teleos in association with The KNOW Network. |
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Mindtree was ranked 18th in Indian IT companies and overall 445 in the [[Fortune India 500]] list of 2011.<ref>{{cite web|url=http://www.mphasis.com/pdfs/FortuneRanking.pdf|title= Fortune India 500 complete list}}</ref> It is ranked 12 in NASSCOM list of software companies which is an increase of one place from the previous year.<ref>{{cite web|url=http://www.nasscom.org/industry-ranking|title=resource center}}</ref> |
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==See also== |
==See also== |
Revision as of 06:34, 26 November 2013
File:Mindtree new logo.jpg | |
Company type | Public |
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BSE: 532819; NSE: MINDTREE | |
Industry | IT |
Founded | 18 August 1999 |
Key people | Subroto Bagchi (Chairman) Krishnakumar Natarajan (CEO) |
Revenue | $ 436 million USD (2013) |
$ 62.5 million USD (2013) | |
Number of employees | 12,941 (Sept 2013)[1] |
Website | www |
Mindtree, is a global information technology solutions 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 435+ million. Mindtree serves over 220 clients worldwide which includes ~40 Fortune 500 enterprises.
Mindtree has delivered 16 consecutive quarters of revenue growth.
History
In August 1999, Mindtree was co-founded by ten global IT industry experts from Cambridge Technology Partners, Lucent Technologies, and Wipro. The founder’s vision was to create a memorable, value-based and a socially sensetive company that delivers knowledge enabled software. Mindtree started with the support and funding from leading venture capital firms, such as Walden International and Sivan Securities and later in 2001 from the Capital Group and Franklin Templeton.
Mindtree started as a consulting organization focusing on Internet technologies. The sudden turn of events during September 11, 2001 attacks in WTC, US and subsequent economic downturn made the company to expand its offerings into the information technology services. Mindtree adapted to the market situation and the leadership ensured that the company and its trusted clients came out of these situations unscathed.
Mindtree went public in December 2006 and was listed on Bombay Stock Exchange and National Stock Exchange. Aztecsoft and 7Strata were some of the key acquisitions of Mindtree.
Subroto Bagchi, Co-Founder and Chairman has penned a detailed version of Mindtree’s history.[2]
Offices
Mindtree's regional headquarters are in Bangalore, London, and Warren, New Jersey. Mindtree has a development center at Gainesville, Florida, at the University of Florida. Mindtree opened a delivery center in Belgium, the second offshore delivery center of Mindtree. It also has 26 sales offices.
Global delivery
Mindtree serves its clients worldwide through its global delivery centers in Gainesville & Seattle - US, Deigem - Belgium, and Bangalore / Chennai / Pune / Hyderabad - India. Mindtree, which started as a Bangalore, India centric company today hosts employees with diverse nationalities, cultures and technical skills. In 2011 the company defined its new strategy of staying closer to the clients. As part of its global vision, Mindtree setup its first US delivery center (USDC) in Gainesville, Florida under the leadership of Scott Staples, Co-founder and Global Head of Sales. This center has a state-of-the-art facility designed for agile development and digital expertise. Mindtree, through this center, is delivering a right-sourcing approach with a combination of expertise with the right delivery options for each of its clients.
The company has 28 offices located across USA, Sweden, UK, Germany, France, Switzerland, Belgium, Australia, Singapore, China, UAE and India.
Client focus
Mindtree’s business is structured around clients in key verticals, such as BFSI, CPG, Manufacturing, Retail, Hi-Tech and Travel & Transportation. The company has business analysts, technology experts and services specialists engineering solutions for clients across these verticals. Mindtree works with most of the top 10 enterprises in each vertical as their strategic partner. Some of the relationships are over 15 years long.
Services and solutions
The services and solutions work as horizontals that are aligned with a specific vertical. The core services of the company are in the areas of Agile, Digital, Analytics, Testing, Infrastructure Management and SAP. Similarly, the technology experts in the areas of Mobile, DW / BI, Mobile and Cloud engineer technology solutions and IPs that are domain specific.
Key solutions include:
- Corporate lending solution - Enabling high volume, high value business through automation.
- MindTest™ - Delivering predictable quality through integrated quality assurance platform.
- mPromo – An award winning SaaS based solution to plan, execute, analyze and optimize trade promotion spend of CPG organizations.
- MWatch - Integrated IT infrastructure management and secured service delivery platform.
- VMUnify, enables organizations deliver infrastructure as a service with secure virtual data centers and unified cloud environments.
Acquisitions
Company name | Year | Business |
---|---|---|
ASAP Solutions | 2004 | SAP implementation |
Linc Software Services Pvt Ltd | 2005 | Application development and maintenance domains for mid-range systems |
CoSystems (Indian division) | 2005 | Telecom |
TES-Purple Vision | 2007 | |
Aztecsoft | 2008 | Product engineering and testing services company. Aztecsoft acquired Disha Technologies a testing company in 2004 |
Kyocera Wireless India Pvt Ltd | 2009 | Wireless services |
7Strata | 2010 | Remote infrastructure management services |
IPO details
Mindtree went public on December 12, 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. The IPO was oversubscribed more than 100 times.
Business responsibility
Mindtree Foundation[3] 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. Mindtree Foundation was officially incorporated on 20th November 2007 under section 25 of Companies Act. Mindtree’s employees, assistive technologies and associations with NGOs help to provide:
- 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 calamities of nature
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
Sustainability
Mindtree’s sustainability [4] approach is built on the principles of triple bottom line i.e. People, Planet and Profit. Through this, the company aims to measure the traditional economic parameters along with the environmental and social dimensions. Mindtree’s sustainability framework is built on three pillars:
- Ecological sustainability
- Governance and control
- Workplace sustainability
Awards & recognition
- Mindtree Wins Gainesville Chamber Business of the Year Award for its Innovative Practices
- Mindtree wins two awards at the SAPTech Ed for its innovative SAP and mobile solutions – mInspect and mPromo
- Mindtree has been selected by Microsoft Corporation (NASDAQ - MSFT) as a Windows Azure Circle Partner. This elite program is reserved for Microsoft’s partners who have achieved success in delivering Windows Azure based solutions.
- Selected by WASL procurement team as 'Best Supplier in the IT- Software services Category' in December 2012. This award is an endorsement of all the hard work the SAP practice, IG has put in over the years to make various projects a success.[5]
- Selected by Forbes Asia as one of the ‘200 Best Under A Billion companies’ of 2012. From a list of 15,000 companies, the screening was done based on sales growth, earnings growth and return on equity in the past 12 months and over three years.[6]
- 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.[7]
- Ranked among the top five global R&D services providers in ‘Global R&D Services Providers 2012’ by Zinnov Consulting.[8]
- Selected by Forbes Asia as one of the ‘200 Best Under A Billion companies’ of 2012. From a list of 15,000 companies, the screening was done based on sales growth, earnings growth and return on equity in the past 12 months and over three years.
- 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. The firm was chosen by CGT’s subscriber base as one of their most valued and used, solution and service providers.[9]
- Mindtree bagged the NASSCOM IT User award 2012 under ‘Social Media Adoption in an Enterprise’ category for its intranet application - ‘PeopleHub’.
- Mindtree was awarded the “Best Corporate Governance, India, 2012” by World Finance magazine
- Mindtree has won the 2nd Runner-up in the People’s Green Award category as part of the TCS World 10K Marathon that was held in Bangalore recently. This award is for Companies and Corporate Foundations contributing to the environmental causes without seeking any monetary gains.
- Texas Instruments 2008 Supplier Excellence Award – the first Indian company to win this award.[10]
- ICSI National Award for Excellence in Corporate Governance, 2008.[11]
- IBM Beacon Award 2008 for Overall Technical Excellence in Sales and Distribution – Asia Pacific.[12]
- NASSCOM Innovation Award 2007 for knowledge management.[13]
- Among the "Best Companies to Work for in 2005" in a 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.
- 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.[14]
- Leader-Human Capital Development – "Global Services 100" – Source CMP-CyberMedia.
- Asia’s Most Admired Knowledge Enterprise (MAKE) winner for the fourth consecutive year in 2011. It won the Global MAKE award for the second year in a row in 2011 and is ranked second in the Indian MAKE award instituted by Teleos in association with The KNOW Network.
See also
References
- ^ "Mindtree Q1 Net up 52 pc".
- ^ Making of Mindtree
- ^ Mindtree Foundation
- ^ Mindtree Sustainability Report (PDF)
- ^ Awards & achievements
- ^ Awards & achievements
- ^ Awards & achievements
- ^ Awards & achievements
- ^ Awards & achievements
- ^ IT award for Mindtree
- ^ The Hindu: Business / Briefly: Award for Mindtree
- ^ IBM Beacon 2008 Awards
- ^ Mindtree clinches Nasscom Innovation Award 2007
- ^ Indian Companies Emerge at the Top of the Business Today – Mercer Human Resource Consulting Best Companies to Work For In India Rankings consecutively for 2006 and 2007