Mindtree

Mindtree

Type	Public
Traded as	BSE: 532819; NSE: MINDTREE
Industry	IT services, IT consulting
Founded	18 August 1999
Founder	Subroto Bagchi Ashok Soota Namakal Parthasarathy Krishnakumar Natarajan
Headquarters	Bangalore, India
Key people	Subroto Bagchi (Non-executive director) Krishnakumar Natarajan (Chairman)[1]
Services	IT, business consulting and outsourcing services
Revenue	₹4,689.6 crore (US$700 million) (FY 2015–16)[2]
Operating income	₹830.4 crore (US$120 million) (FY 2015–16)[3]
Net income	₹603.3 crore (US$90 million) (FY 2015–16)[4]
Number of employees	16,110 (June 2016)[5]
Website	www.mindtree.com

Mindtree Limited is an Indian multinational information technology and outsourcing company headquartered in Bangalore, India and New Jersey, USA. Founded in 1999, the company employs approximately 16,500+ employees with annual revenue of $700+ million.^[6] The company deals in e-commerce, mobile applications, cloud computing, digital transformation, data analytics, EAI and ERP, with more than 290 clients and offices in 14 countries.^[7] Its largest operations are in India and major markets are United States and Europe. The company was formed on 18 August 1999 by ten IT professionals, who formerly worked for Cambridge Technology Partners, Lucent Technologies, and Wipro.^[8]

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.^[9] It was funded by the venture capital firms Walden International and Sivan Securities, and later in 2001 from the Capital Group and Franklin Templeton.^[10] 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] Mindtree announced a new brand identity and logo, with the slogan "Welcome to possible" on September 28, 2012.^[13]

Mindtree Chennai at Ramanujan IT City Sez

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

Digital Pumpkin, the company's research and development lab, is at Bengaluru, India^[16]

Services

The company specializes in Application Development and Maintenance, Data Analytics, 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.^[17]

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.

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.^[18]

Employee Metrics

Mindtree has a total of 17,000+ employees as of March 2016, of which 28% were women. Its workforce consists of employees representing 48 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.^[19]

Acquisitions

Subsidiaries

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.^[35] Mindtree Foundation was incorporated on 20 November 2007 under section 25 of Companies Act. Html//Mindtree Mindtree’s employees, assistive technologies and associations with NGOs help to provide:^[36]

• Launched 'Udaan' ,a scholarship program to support the medical education of underprivileged students in association with Narayana Hrudayalaya Charitable Trust.^[37]
• 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.^[38]
• 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.^[39]
• 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:^[40]

• 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

• Mindtree named in Forbes India’s first ever Super 50 list based on consistent shareholder returns, sales growth and return on equity.^[41]
• Mindtree named a Leader in Zinnov's Global R&D Service Provider Ratings for the Third Year in a Row in 2014.^[42]
• 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.^[43]
• Mindtree wins the "Most Promising Company of the Year" Award from CNBC TV18 in 2013.^[44]
• Selected by Forbes Asia as one of the "200 Best Under A Billion companies" of 2012.^[45]
• 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.
• Texas Instruments 2008 Supplier Excellence Award – the first Indian company to win this award.^[46]

See also

• List of IT consulting firms
• Fortune India 500
• List of Indian IT companies

References

External links

• Mindtree Website