Mindtree Ltd was an Indian multinational

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (I ...

services and

consulting A consultant (from la, consultare "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice and other purposeful activities in an area of specialization. Consulting servic ...

company, headquartered in

Bangalore Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

. It is a part of the

Larsen & Toubro Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumba ...

Group. Since its foundation in 1999, the company has employed over 38,518 employees. The company deals in

e-commerce E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain manageme ...

mobile application A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on de ...

cloud computing Cloud computing is the on-demand availability of computer system resources, especially data storage ( cloud storage) and computing power, without direct active management by the user. Large clouds often have functions distributed over mul ...

digital transformation Digital transformation is the adoption of digital technology by an organization to digitize non-digital products, services or operations. The goal for its implementation is to increase value through innovation, invention, customer experience or ef ...

data analytics Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data. It also entails applying data patterns toward effective decision-making. It ...

Testing An examination (exam or evaluation) or test is an educational assessment intended to measure a test-taker's knowledge, skill, aptitude, physical fitness, or classification in many other topics (e.g., beliefs). A test may be administered verba ...

enterprise application integration Enterprise application integration (EAI) is the use of software and computer systems' architectural principles to integrate a set of enterprise computer applications. Overview Enterprise application integration is an integration framework comp ...

and

enterprise resource planning Enterprise resource planning (ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of Business management tools, business management ...

, with more than 307 active clients and 43 offices in over 18 countries, as of 31 March 2019.

History

In August 1999, Mindtree Consulting Private Limited was founded by ten IT professionals, three of which invested through an entity incorporated in

Mauritius Mauritius ( ; french: Maurice, link=no ; mfe, label=Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It incl ...

. It was funded by the

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...

firms Walden International and Sivan Securities, and received further funding in 2001 from the

Capital Group Capital Group is an American financial services company. It ranks among the world's oldest and largest investment management organizations, with over $2.6 trillion in assets under management. Founded in Los Angeles, California in 1931, it is pri ...

and

Franklin Templeton Franklin Resources, Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is ...

. It became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...

on 12 December 2006 and was listed on the

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange in ...

and National Stock Exchange. Its

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

debuted on 9 February 2007 and closed on 14 February 2007. The IPO was oversubscribed by more than a hundred times. Mindtree announced a new

brand identity A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create a ...

and logo, with the slogan "Welcome to possible" on 28 September 2012. In 2012, Mindtree setup its first U.S. delivery center (USDC) in Gainesville,

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...

, under the leadership of Scott Staples, co-founder and Global Head of Sales. As of 2017, the company has 43 offices in over 17 countries.

(L&T), an infrastructure major and one of the largest conglomerates in India, took over control of Mindtree in June 2019 and currently has a 61.08% stake in the company. L&T's take over of Mindtree was described at the time as the first hostile takeover in the

Indian IT industry The information technology industry in India comprises information technology services, consulting, and outsourcing. The share of the IT-BPM sector in the GDP of India is 7.4% in FY 2022. The IT and BPM industries' revenue is estimated at $22 ...

. In March 2020, Mindtree announced the appointment of Dayapatra Nevatia as COO with immediate effect. He joins the company from Accenture where he was the managing director as well as the director for delivery for advanced technology centers in India. In April 2022, speculation arose that Mindtree and

Larsen & Toubro Infotech LTIMindtree Limited is an Indian multinational information technology services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, the company was incorporated in 1996 and employs more than 90,000 people. History The co ...

will be merged. The combined entity was named

LTIMindtree LTIMindtree Limited is an Indian multinational information technology services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, the company was incorporated in 1996 and employs more than 90,000 people. History The co ...

after official merger in November 2022. In December 2022,

had a Market cap of Rs.1,29,369.32 crore.

Services

Mindtree works in Application Development and Maintenance, Data Analytics, Digital Services,

Enterprise Application Integration Enterprise application integration (EAI) is the use of software and computer systems' architectural principles to integrate a set of enterprise computer applications. Overview Enterprise application integration is an integration framework comp ...

and

Business Process Management Business process management (BPM) is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to manage a company's business pro ...

, Engineering R&D, Enterprise Application Services, Testing, and Infrastructure Management Services. The company offers various research and development services including Bluetooth Solutions, Digital Video Surveillance, an integrated test methodology called MindTest, an IT infrastructure management and service platform called MWatch, the application management service, Atlas, SAP Insurance and

OmniChannel Omnichannel is a neologism describing a business strategy. According to ''Frost & Sullivan'', omnichannel is defined as "seamless and effortless, high-quality customer experiences that occur within and between contact channels". History "Omnis" is ...

. Mindtree's business is structured around clients in verticals such as Banking, Capital Markets, Consumer Devices & Electronics, Consumer Packed Goods, Independent Software Vendors, Manufacturing, Insurance, Media & Entertainment, Retail, Semiconductors and the Travel and Hospitality industry. Mindtree's workforce includes thousands of employees who serve as

Microsoft Azure Microsoft Azure, often referred to as Azure ( , ), is a cloud computing platform operated by Microsoft for application management via around the world-distributed data centers. Microsoft Azure has multiple capabilities such as software as a ...

outsourced support agents.

Employees

Mindtree has a total of 23,814 employees as of March 2021, of which 32% were women. Its workforce consists of employees from over 80 nationalities working from various offices around the globe. Out of its total workforce, 95% are software professionals and remaining 5% work in support and sales.

Acquisitions

Subsidiaries

Philanthropy

Mindtree Foundation is a unit of Mindtree that works towards improving the lives of people with disabilities and the enhancement in the quality of primary education. Mindtree Foundation was incorporated on 20 November 2007 under section 25 of Companies Act. Mindtree's employees, assistive technologies and associations with NGOs led to the following: * The launch of 'Udaan', a scholarship program to support the medical education of underprivileged students in association with Narayana Hrudayalaya Charitable Trust. * The launch of 'I Got Garbage', a cloud-based platform aimed to simplify waste management and transform every

waste picker A waste picker is a person who salvages reusable or recyclable materials thrown away by others to sell or for personal consumption. There are millions of waste pickers worldwide, predominantly in developing countries, but increasingly in post-in ...

Bengaluru Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

, India into an entrepreneur through a structured and governed waste management framework. * 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.

References

External links

* {{Nifty 200 companies Information technology companies of Bangalore International information technology consulting firms Multinational companies headquartered in India Outsourcing companies Outsourcing in India Software companies based in Mumbai Software companies established in 1999 Information technology companies of Bhubaneswar Indian brands 2019 mergers and acquisitions 1999 establishments in Karnataka Larsen & Toubro Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange