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History
MindTree Limited is a global IT Solutions Company specializing in IT Services, Product Engineering, Infrastructure Management and Technical Support (IMTS), Independent Testing and Knowledge Services that was started in 1999 by 10 industry professionals who came from Cambridge Technology Partners, Lucent Technologies and Wipro. Currently co-headquartered in Warren, New Jersey and Bangalore, India, it has 3 development centers in India and 15 offices spread across Asia, Europe and the United States. The founding team was led by Ashok Soota, who was at that time vice chairman and president of Wipro, one of India's largest software companies. The company has 7,866 needed; the fastest Indian IT company to achieve the target. MindTree is also the world's youngest company to be assessed at both CMMi and P-CMM. employees.MindTree crossed USD 100 million in revenues in April 2006 MindTree was started by 7 leaders in the Indian IT business - Ashok Soota, Subroto Bagchi, Krishnakumar Natarajan, S Janakiraman, N.S.Parthasarathy, Kalyan Banerjee and Rostow Ravanan and 3 leaders in American IT business - Anjan Lahiri, Scott Staples and Kamran Ozair. Scott Staples now heads MindTree's US operations. They started with a funding of 9.1 million dollars from two Venture Capital firms Walden International and Sivan Securities. Initially starting as a pure-play e-business consulting and technology company, MindTree had to expand its offerings to include IT and R&D services during the down-turn following September 11. The company obtained a second round of funding for 14.1 million dollars in August 2001 from the Capital Group, and Franklin Templeton apart from the initial VCs. MindTree announced that it has signed a definitive agreement with the largest shareholder of Aztecsoft Ltd. to acquire 32.57% of its shares at Rs 80 per share, which values the company at an equity valuation of USD 90 Million. MindTree will also announce an open offer to Aztecsoft's public shareholders to purchase up to an additional 20% equity ownership interest. These transactions are subject to customary regulatory filings, clearances and approvals. After the completion of these transactions, MindTree will initiate the process of merging Aztecsoft into itself.
Company Profile
MindTree was started in 1999 by a diverse team of 10 professionals who came from three different nations and had already scripted successful careers. Their vision to build an institution that is among the most admired companies globally is shared with every MindTree Mind and is reflected in the way we do business.
Our Mission
Our mission statement reinforces that our two most important stakeholders are our customers and our people. There is also a correlation between all three elements as we believe that Happy People lead to Happy Customers and also Innovative Solutions are a means of contributing to the success of our customers.
Our mission is:
Successful Customers
Happy People
Innovative Solutions
Our Values and Culture
What brings us MindTree Minds together in building an organization that has a unique culture is our value system. Every MindTree Mind is driven by CLASS, the acronym for our core values of Caring, Learning, Achieving, Sharing, and Social Responsibility. Everything we are, everything we do, and everything we believe in revolves around our CLASS values and the distinct culture that we have built. The two main attributes that characterize our culture, as our Chairman and Managing Director Ashok Soota says are high achievement orientation and high caring.
Markets
*Automotive
*Communication Systems
*Consumer Appliances and Computer Peripherals
*Industrial Systems
*Medical Electronics
*Storage and Computing Systems
*Multi Markets (Avionics)
Licensable IP Offerings
Bluetooth (Software Stack and Baseband)
SBC (Bluetooth low-complexity Sub-Band Codec)
Product Engineering Services
Independent Testing
Infrastructure Management and Tech. Support
Knowledge Service (KPO)
Acquired NOIDA based ASAP soultions in 2004 for all cash deal
2) Acquired Bangalore based Linc Software Services Pvt Ltd. in 2005 for stock and cash
3) Acquired Indian division of cosystems for all cash deal
4) Acquired TES-Purple Vision in December 2007
5) MindTree to Acquire Majority Equity Interest in Aztecsoft.
6) Acquired Pune based Alereon in 2008 |
