Mindtree

Indian multinational technology company

The company had business interests in e commerce, mobile applications, cloud computing, digital transformation, data analytics, testing, enterprise application integration, and enterprise resource planning. Mindtree had more than 307 active clients and 43 offices in over 18 countries, as of 31 March 2019.

In August 1999, Mindtree Consulting Private Limited was founded by ten IT professionals, three of which invested through an entity incorporated in Mauritius. It was funded by the venture capital firms Walden International and Sivan Securities and received further funding in 2001 from the Capital Group and Franklin Templeton. It became a public company on 12 December 2006, and was listed on the Bombay Stock Exchange and National Stock Exchange. Its IPO 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 and logo, with the slogan "Welcome to possible" on 28 September 2012. In 2012, Mindtree set up its first U. S. delivery center (USDC) in Gainesville, Florida, 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. Larsen & Toubro (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 takeover of Mindtree was described at the time as the first hostile takeover in the Indian IT industry. 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 May 2022, L&T announced that Mindtree will be merged into Larsen & Toubro Infotech (LTI). The merger was completed in November 2022 and the combined entity was named LTIMindtree.

Mindtree works in Application Development and Maintenance, Data Analytics, Digital Services, Enterprise Application Integration and Business Process Management, 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, an application management service called Atlas, SAP Insurance and OmniChannel. Mindtree's business is focused clients on 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 outsourced support agents.

Mindtree has a total of 35,071 employees as of fiscal year 2022. 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.

NameAcquisition dateActivitiesCountry of HQPriceEmployees(at acquisition)Reference ASAP Solutions 2004 SAP & ERP India & United States NA 120 Linc Software Services Pvt Ltd 2005 Application development and Maintenance domains for Mid Range Systems India $7 million 220 CoSystems 2005 Telecom (Captive Development Center – Indian division) United States 10 million 20 TES Purple Vision 2007 Electronics(IC Design). Indian Division. Subsidiary of TES Electronic Solutions SA. France $6.55 million 150 Aztecsoft 2008 Product engineering and Testing services company. Aztecsoft had previously acquired Disha Technologies, a testing company, in 2004. India 40 million 2200 Kyocera Wireless India Pvt Ltd 2009 Wireless services. Indian R&D Division Japan $6 million 600 7Strata 2010 Remote infrastructure management services India 7.2 million 90 Discoverture Solutions LLC Jan 2015 Property and Casualty Insurance United States $15 million 300Bluefin Solutions LimitedJuly 2015IT solutions, SAP HANA solutionsUnited Kingdom£42.3 millionRelational Solutions IncJuly 2015IT solutions CPGUnited States$10 million

NameLocationMindtree Software (Shanghai) Co. LtdChinaBluefin Solutions LimitedUnited KingdomBluefin Solutions Inc. United StatesBluefin Solutions Sdn BhdMalaysiaBluefin Solutions Pte LtdSingapore

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 in Bengaluru, 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.