#ING Vysya selects #Mindtree as strategic digital partner

Mindtree to help ING Vysya deliver multi-channel and multi-platform banking experience to its customers while creating a digital road map.It has already launched a new retail banking app that crossed 50,000 downloads in first two months.

The first phase of the engagement Mindtree to conceptualize, design and develop a retail banking hybrid mobile application to drive efficiency and engagement across multiple channels including Android, Windows, BlackBerry, J2ME and Website based platforms. This application would provide a comprehensive retail banking experience to customers. It will brings exclusive features, such as multi balance meter, shopping and deals, gift cards and cheque scan making it more engaging and relevant to customers.

Aniruddha Paul, CIO, ING Vysya said, ”Our digital roadmap will help us level the playing field with our larger competitors by creating innovative and path breaking solutions for our customers. We are glad to select Mindtree as one of our key Digital Partner. Their domain and technology expertise with a clear strategic intent is critical in our journey towards mobility. We see large opportunities in developing these kind of applications for the rest of our business.”

Gaurav Johri, Senior Vice President and Head of Banking Financial Services and Insurance, Mindtree said, “ING Vysya has been our strategic client for over 9 years. It is imperative for banks to have a well thought digital strategy blueprint to enable rapid go-to-market and also provide superior customer experience. We are excited to partner with ING Vysya in its journey to be the industry leader in digital banking.”

#Mindtree appoints new members in its board of directors

Mindtree, a global technology services company, appointed Manisha Girotra, the India CEO of a leading global independent investment bank, to its board of directors effective May 20, 2014. The board also elected Rostow Ravanan as an Executive Director in addition to his role as the CFO.

“As we move into the next phase of Mindtree’s growth, Manisha’s vast global experience will be a great asset in guiding our strategy and providing us with enlightened oversight. She is a nationally respected business leader known for her ability to drive change,” said Subroto Bagchi, Chairman, Mindtree.

“It is a great privilege to join the Mindtree board. I look forward to helping its outstanding management team in the making of a memorable company,” said Manisha Girotra.

Manisha Girotra is the Chief Executive Officer of Moelis & Company in India. She ran the India operations for UBS and Barclays de Zoete Wedd's investment bank. Manisha is a specialist in investment banking, mergers & acquisitions and wealth management. She has been nominated in Fortune’s Most Powerful Women in Business Club in 2011 and was honoured as a Young Global Leader 2010 by the World Economic Forum.

Rostow Ravanan, Chief Finance Officer, co-founded Mindtree in 1999. He was part of a team that has led Mindtree from an idea to IPO.  He is responsible for defining and implementing processes for good governance that has taken Mindtree to the list of Top 25 best-governed companies in India. CFO Magazine voted him in the list of Top 100 CFOs in India for four years.

#Mindtree becomes Platinum Sponsor of STAREAST

Mindtree, a global technology services company, will unveil its latest innovations for testing in a connected world as a Platinum Sponsor of STAREAST, the premier event for software testers and quality assurance professionals. Mindtree’s Rajeevan Velayudhan will conduct a technical presentation entitled “Is Your Test Strategy Ready for a Connected World?” on Thursday, May 8, 2014 at 9:45am.

The presentation will highlight how QA organizations need to re-think the protection of entire customer experiences while ensuring high quality individual applications. Velayudhan will illustrate how building a map of end-to-end business processes and their interactions with each other is no longer just a domain of individual application teams. This new approach is ‘user centric’ whereby teams move from testing applications to testing customer experiences over multi-channel platforms in distributed locations and networks.  The benefit of this approach is improvements in quality, cost and agility while ensuring QA gets its rightful seat at portfolio strategy discussions and becomes more than just a project activity.

Dominique Raviart, analyst at NelsonHall states that “Mindtree is developing an end-user approach to the software testing work it conducts. This end-user approach is of course found in usability testing engagements and expands towards Mindtree training its testing practice personnel to consider the end-user side of a testing project. Mindtree is therefore not offering a distinct service offering but a dual approach to testing, both as a technical service and an end-user perspective. This is a nice differentiator in an IT market that is gradually leaning towards consumerization and putting end-users back at its center.”

“At Mindtree, we ensure that our clients deliver the best value to their customers while maximizing efficiencies and collaboration,” said Manas Chakraborty, Global Head of QA at Mindtree. “Our innovative approach is based on deploying scalable frameworks & models that examine entire business processes and focus on customer centricity.”

Mindtree experts will be at the conference to discuss the approach and components that will help client organizations adopt this transformational approach to Quality Assurance.

To learn more about Mindtree’s testing approach for a connected world, visit the team at Booth 52 at STAREAST on May 7 and 8 at the Rosen Centre Hotel in Orlando, FL.

#Mindtree opens a new US delivery center in Redmond, #Washington

Mindtree, a global information technology solutions company, expanded its US operations by opening its newest delivery center in Redmond, Washington. The state of art facility will focus on building talent and delivering cutting edge solutions in the areas of Cloud, Mobility, Infrastructure Management and Testing.

The 13,000 square-foot facility, located adjacent to Microsoft’s corporate campus, has an initial seating capacity of 125 with room to increase that capacity quickly over time.

“There is an increasing demand from our clients to provide right-sourcing options from a combination of onsite, offshore, or onshore locations,” said Scott Staples, President Americas at Mindtree. “We have already proven, with our right-sourcing approach, that we can deliver superior solutions at lower costs and at a faster pace. USDC-Redmond allows us to further scale the delivery of solutions in the U.S., create high value jobs in the State of Washington and help us continue to leverage the best and brightest from the global talent pool.”

This is Mindtree’s second delivery center in the U.S. The first was established in Gainesville, Florida in 2012, pioneering the right sourcing trend and now serving more than 15 clients with a specific focus on Agile Development. The US delivery centers, being in a US time zone complement Mindtree’s existing global delivery centers, enhancing our ability to deliver time-to-market and cost advantages through right-sourcing.
“Mobile and Cloud are playing a transformational role in our client’s business roadmap. Between the talent available in Redmond, our academy of excellence and existing pool of experts, we will be able to deliver meaningful solutions onsite,” said Kamran Ozair, Executive Vice President and Head of Redmond USDC, Mindtree. “The presence of Microsoft, one of our largest clients, makes Redmond a strategic location. Our experience engineering next generation solutions for Microsoft give our new delivery center a very strong foundation,” he added.

Mindtree Q4 profit jumps 11% touchs $15.9 million

Key financial highlights:
Quarter ended March 31, 2014
·       In USD terms:

o   Revenue at $132.8 million (growth of 4.4% q-o-q / 17.4% y-o-y)
o   Net profit at $15.9 million (growth of 11.7% q-o-q / 8.9% y-o-y)
·       In Rupee terms:

o   Revenue at ` 8,237 million (growth of 4.2% q-o-q / 34.5% y-o-y)
o   Net profit at ` 982 million (growth of 11% q-o-q / 24.5% y-o-y)
Year ended March 31, 2014
·       In USD terms:

o   Revenue at $501.5 million (growth of 15.1%)
o   Net profit at $74.6 million (growth of 19.3%)
·       In Rupee terms:

o   Revenue at ` 30,316 million (growth of 28.4%)
o   Net profit at ` 4,508 million (growth of 32.9%)

FY14 has been a momentous year for Mindtree. We crossed half a billion dollars in revenues, USD 100 million in operating profits and INR 100 of EPS. As we celebrate this success, I would like to thank all our clients, partners, investors and Mindtree Minds for their immense faith and contribution. We have progressed well in our journey to increase our strategic relevance to our clients. We will continue to aspire to deliver superior financial performance, innovation, industry leadership in our chosen verticals, social responsibility and corporate governance” said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.
Other highlights:

·       Clients:

o   207 active clients as of March 31, 2014         
o   $5 million clients grow to 24; $1 million clients grow to 73
·       Employees:

o   12,926 employees as of March 31, 2014
o   Added 397 employees during the quarter on a gross basis
o   Trailing 12 months attrition is at 12.7%
·       Multi-year and multi-million dollar wins with leading global clients:

o   Leading global provider of share registry, pension administration, compliance reporting and analytics solutions.  Mindtree will provide  application maintenance, testing and management reporting services
o   Leading telecommunications company, which is an existing client.  Mindtree is selected as its managed services partner for maintenance of multiple datacenters that hosts its telecom business applications
o   Leading global insurance company.  Mindtree is chosen to provide application development & maintenance, IMS and testing services
o   Leading global provider of governance, risk and compliance management solutions.  Mindtree will support its cloud based platform
·       Awards and Recognition:

o   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
o   Mindtree is in the top 3 ranking in India, on all categories related to Corporate Governance & Investor Relations by Asiamoney
·       Issue of bonus shares:

o   On the occasion of our 15th anniversary and revenues crossing a significant milestone of half a billion dollars,  the Board of Directors at their meeting held on April 16, 2014 recommended an issue of bonus shares in the ratio of 1:1, i.e. one additional equity share for every existing equity share.   This is subject to shareholders approval.  Bonus shares will be credited to the shareholders after completion of statutory formalities and within the prescribed statutory timelines

·       Dividend announcement:

o   The Board of Directors, at its meeting held on April 16, 2014 recommended an interim dividend of 50% (` 5 per equity share of par value ` 10 each) for the quarter ended March 31, 2014.  Further, the Board has recommended a final dividend of 50% (` 5 per equity share of par value ` 10 each) for the year ended March 31, 2014 and a special dividend of 50% (` 5 per equity share of par value ` 10 each) for completion of 15 years in business.  If the proposed 1:1 bonus share issue is approved by shareholders prior to the date of the AGM, the final & special dividend amounts would be accordingly reduced to 25% (` 2.5 per equity share of ` 10 each)


About Mindtree
Mindtree [NSE: MINDTREE] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries.

Annual technology festival Osmosis 2014 at Mindtree

Mindtree, a global technology services company, today celebrated the grand finale of Osmosis 2014 – its annual technology festival.  With ‘Expert Thinking’ as the theme, Osmosis 2014 engaged not just Mindtree Minds, but went beyond to connect with clients, students, IT professionals, partners and entrepreneurs.

Osmosis is a month-long celebration of technology at Mindtree, with various events and tracks crafted to showcase Mindtree’s technological depth. This year, Osmosis 2014 has five unique tracks – Techathlon, Value-Add Jam, Expert Speak–Webinars and K-Safari.

“We take pride in our diversity, technical expertise and strong values that create the foundation for delivering breakthrough solutions for our clients. As we continue to focus on the fundamental pillars that make a difference to our business, our greatest asset - our people, play a pivotal role in defining our success,” said Krishnakumar Natarajan, CEO and MD, Mindtree.

Techathlon, the technology derivative of the sports event ‘Decathlon’ required participants to take up challenges on coding, optimizing, and blogging. The Value-Add Jam was an event that sparked innovation and brought out a multitude of business and technology ideas that can add value to Mindtree’s clients.

The other events created a highly interactive platform for self-learning by collaboration among the audience and the SMEs. Expert Speak-Webinars provided an opportunity for the experts within Mindtree to share their knowledge both within and outside the organization.

Knowledge Safari culminated the month-long festivities in Osmosis, by taking Mindtree Minds through a ‘technology safari’. The Mindtree facilities transformed into a busy hub, with vibrant stalls put up all over. The stalls feature Mindtree’s technology implementations, partners and invited entrepreneurs. Osmosis 2014 finally concluded with a glittering awards ceremony.

Osmosis 2014 brought together more than 10,000 Mindtree Minds across 14 countries, to collaborate, share knowledge, challenge themselves and celebrate technology through Osmosis – helping knowledge flow spontaneously, across the organization.

Mindtree enters strategic alliance with Pegasystems to develop and optimize custom BPM solutions

Mindtree, a global technology solutions company, today announced a strategic alliance with Pegasystems Inc. (NASDAQ: PEGA), the leader in Business Process Management (BPM), to develop and optimize custom BPM solutions. The solutions will be based on Pegasystems’ Build for Change® technology platform.
“Customers want a solution that leverages BPM platforms across multiple lines of business,” said Paul Gottsegen, Senior VP, Chief Marketing & Strategy Officer at Mindtree.  “Our broad alliance with Pegasystems helps our clients accelerate their efforts to create a more streamlined organization.”

“Mindtree shares our vision of providing clients with innovative solutions that solve a broad spectrum of challenges that today’s businesses face on the path to becoming digital enterprises,” said John Barone, VP, Global Strategic Alliances at Pegasystems.  “We look forward working together to meet the needs of our clients with Better Business Software and services that enable them to transform their businesses and embrace the power to better engage with customers, simplify operations, and adapt to change.”
Mindtree’s EAI / BPM center of excellence conceptualizes and incubates key solutions that provide clients with better performance and high quality processes at reduced costs. Through a consulting-led approach, technology expertise and proven methodology, Mindtree delivers large-scale EAI/BPM transformation.

Mindtree will be showcasing these solutions at PegaWorld 2014, June 8-10, 2014 in Washington, D.C. To schedule a meeting with Mindtree, please contact us at info@mindtree.com.

About Pegasystems
Pegasystems Build for Change® Platform is the heart of Better Business Software™. It delivers business agility and empowers leading organizations to rapidly close execution gaps and seize new opportunities. Pegasystems leverages its recognized leadership in Business Process Management (BPM), Multi-Channel Customer Relationship Management (CRM), Business Rules, and Adaptive Analytics to uniquely give its clients the power to engage customers, simplify operations and Build For Change®. For more information, please visit us at www.pega.com.

About Mindtree
Mindtree [NSE: MINDTREE] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries. We deliver amazing results: Helping 100 million passengers fly safely. Improving security and performance for one of the world’s largest e-commerce stores. Unifying brand messaging and improving engagement for one billion consumers. For Mindtree, “Welcome to possible” is more than a slogan - it reflects our approach to every engagement.

Mindtree to support and increase efficiencies for SITA’s Strategic Finance System

Mindtree, a global technology solutions company, announced it now provides application support and evolutionary maintenance services to SITA, the world's leading specialist in air transport communications and IT solutions, for its new Strategic Finance System (SFS) platform.

SITA’s new Strategic Finance Systems (SFS), based on Oracle’s eBusiness Suite, consolidates all internal and external finance processing across the globe for 200 countries, encompassing 310 entities. SFS enables a central finance shared function for all receivables and payables activities across its global network of suppliers, airlines and airports.

Mindtree will provide global Level 2 and 3 application support for SFS for a period of 3 years, including Hyperion and OBIEE, database administration and monitoring, consulting services and evolutionary maintenance to improve operational efficiencies, application enhancements, customizations and new report generation. Mindtree’s support for SITA covers more than 310 entities across 200 countries.

“Together, Mindtree and SITA have had a successful relationship for more than 7 years, delivering next generation technology solutions to airlines, airports and in turn millions of passengers across the world” said Krishnakumar Natarajan, MD and CEO, Mindtree. “We have been operating and supporting SITA’s billing and invoicing systems for more than five years and we’re excited to be part of this transformational journey to further enhance SITA’s ability to serve their customers more efficiently. This partnership also cements Mindtree’s position as a leading provider of Oracle based solutions.”

Mindtree, which has deep insight into financial applications and business processes, has set up a support center of excellence to help SITA reduce their support and operational costs.  This support center of excellence will reduce the number of support tickets, provide greater insights into billing and collections and reduce delivery time through agile management of change requests. Mindtree’s evolutionary maintenance model will help SITA rapidly identify and resolve business critical system issues through proactive monitoring; ongoing consultative and best practice recommendations for system improvements and efficiencies. SITA’s SFS is based on Oracle R12 eBusiness Suite, OBIEE and Hyperion.

Mindtree Helps LAPIS Semiconductor Launch Next Generation Bluetooth® Smart Chips

Mindtree, a global information technology solutions company, today announced that its BlueLitE Bluetooth® intellectual property (IP) enabled wireless communication LSI - ML7105 chip from LAPIS Semiconductor, is under mass production. Mindtree provided the silicon and software IP for Bluetooth® Smart. Additionally, Mindtree collaborated with LAPIS during the entire development cycle making key feature enhancements to help LAPIS deliver ML7105 - industry’s lowest power Bluetooth Smart solution.

The ML7105 series from LAPIS Semiconductor is designed for a new range of devices to enable the Internet of Things - Smart watches, health & fitness wearables such as heart rate monitors, pedometers and sleep trackers. Such Integrated Circuits (IC) designed for diverse devices have stringent needs on code and data size, MIPS and power. Mindtree BlueLitE IP met these rigorous needs and delivered a fully optimized solution. The net result is a 50% reduction in average power consumption and a 2X increase in battery life for typical coin cell batteries like CR2032.

Jayanth Krishna, Director and Head - Short-range Wireless, Mindtree, said “Our investments and expertise in Bluetooth technology over a decade is helping us consistently deliver breakout solutions for our clients. LAPIS Semiconductor has been Mindtree’s longstanding and valued client during this journey. We are very excited that LAPIS has launched ML7105 to accelerate their expansion into new markets and devices. The ML7105 has already been adopted by a global Japanese player in their smart watches which is a testimony for the maturity of Mindtree’s solutions.”

Makoto Terada, LAPIS Semiconductor said “Mindtree has offered LAPIS a complete implementation of its Bluetooth IP, seamlessly integrating with our product platform. As a true partner, Mindtree brought deep expertise and innovation in the core IP layers to help meet our vision, backed by excellent support and testing capabilities. Mindtree will remain a key partner to ensuring success of our current and future Bluetooth Smart products on our roadmap.”

The latest Bluetooth® Smart standard (Bluetooth® 4.1) is designed to enable more connected devices and will open new markets and products and also enable Bluetooth Smart sensors to use IPv6. Mindtree has completed implementation and interoperability testing of the newly minted Bluetooth Smart version 4.1, and recently announced availability of its silicon and software IP portfolio for commercial licensing.

Mindtree offers a comprehensive portfolio of Bluetooth intellectual property solutions and a range of design, engineering, testing and consulting services for semiconductor vendors and OEMs to rapidly go to market. The IP portfolio includes certified, customizable, ultra-low power and footprint silicon IP for Bluetooth® Smart 4.0 and 4.1, and ultra-compact, complete certified portfolio of protocol stack & profiles IP for Bluetooth® Smart 4.0 and 4.1. Mindtree also offers a feature-rich and compact Bluetooth® Smart Ready 4.0 and Bluetooth® 2.1+EDR/3.0+EDR protocol stack and profiles.

For more information – see http://www.mindtree.com/solutions/bluetooth

About LAPIS Semiconductor
LAPIS Semiconductor is a leading total-silicon solutions provider in the ever-expanding digital communications market. LAPIS Semiconductor has the expertise and experience in technology development and products manufacturing to support a wide array of customers and a multiplicity of customer demands. As the result of a highly synergetic union with the ROHM Co. Ltd. in 2008, LAPIS Semiconductor continues to support the new digital future by developing and providing innovative products to the market. For more information, please visit www.lapis-semi.com

About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 435 million. Our experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.

Mindtree’s consulting-driven approach makes us a strategic partner to many Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our clients achieve competitive advantage through flexible and next generation global delivery models, Agile methodologies and expert frameworks.

Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking.
Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.
Welcome to possible.

Mindtree Q3FY14 results

Key financial highlights:

•    In USD terms:
o    Revenue at $127.1 million (growth of 2.5% q-o-q / 15.7% y-o-y)
o    Net profit at $14.2 million (decline of 31.5%* q-o-q / 22.7%* y-o-y)
•    In Rupee terms:
o    Revenue at ` 7,906 million (growth of 2.7% q-o-q / 34% y-o-y)
o    Net profit at ` 885 million (decline of 31.2%* q-o-q / 10.4%* y-o-y)
* Due to forex loss in Q3 of FY14 as against forex gain in Q2 of FY14 and Q3 of FY13
Other highlights:
•    Clients:
o    208 active clients as of December 31, 2013
o    $5 million clients grow to 22; $10 million clients grow to 13; $20 million clients grow to 6
•    Employees:
o    12,992 employees as of December 31, 2013
o    Added 397 employees during the quarter on a gross basis
o    Trailing 12 months attrition has declined to 11.6% as compared to 15.1% a year ago


•    Multi-year and multi-million wins with leading global clients:
o    One of the top 3 global airlines. Mindtree will provide development and support services for its next generation cargo management system
o    World’s leading manufacturer of luxury lifestyle home entertainment products.  Mindtree has been chosen as the sole software development partner in the area of video technologies for the next generation Digital TV platform and future video products
o    Leading global provider of electronic payments solutions to financial institutions. Mindtree has been chosen to provide engineering solutions, platform enhancements, testing and test automation services 
o    Leading provider of global information & telecommunication solutions for the air transport industry. Mindtree will provide Oracle application support for their business critical strategic finance systems, for this existing client
•    Others:
o    Mindtree received the ‘Most Promising Company of the Year’ award from CNBC TV18
o    Mindtree won Gainesville Chamber of Commerce’s Business of the Year award for its innovative practices
o    Mindtree’s mobility solutions for the retail and logistics industries won SAP® 2013 Industry Mobile App Challenges at SAP’s TechEd event
o    Krishnakumar Natarajan, CEO & MD, Mindtree voted as one of India's Top 100 CEOs by Business Today – PricewaterhouseCoopers, 2014.
o    Mindtree adds Apurva Purohit, CEO, Music Broadcast Pvt Ltd, (one of India’s largest media businesses) to its Board of Directors, effective January 1, 2014.  The Board also elected Parthasarathy N S as an Executive Director, in addition to his role as President, Enterprise Service Lines.
•    Dividend announcement:
o    As announced earlier, our goal is to gradually increase the payout and move to a quarterly dividend payment mode.  In line with this, the Board of Directors, at its meeting held on January 16, 2014, recommended an interim dividend of 50% (` 5 per equity share of par value `10 each) for the quarter ended December 31, 2013.

About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 435 million. Our experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.

Mindtree names Apurva Purohit, CEO, Music Broadcast Pvt. Ltd, to its Board of Directors

Mindtree, a global information technology solutions company, today announced the appointment of Apurva Purohit, the CEO of one of India’s largest media businesses, to its Board of Directors effective January 1, 2014. Ms. Purohit will also become a member of the company’s audit committee. The Board also elected Parthasarathy NS as an Executive Director in addition to his role as the President, Enterprise Service Lines.

“As we move forward with our transition to be an expertise-led organization, it will be extremely helpful to have the benefit of Apurva Purohit’s vast experience,” said Subroto Bagchi, Chairman, Mindtree. “She is very highly regarded in her industry. She has created and evangelized many successful brands and her appointment comes at the right juncture to help Mindtree reach greater heights.”

“It is an honor to be a part of the stellar team at Mindtree. I look forward to contribute towards the next phase of growth for the company,” said Apurva Purohit.
Apurva Purohit is the CEO of Music Broadcast Private Limited, which operates Radio City 91.1FM, India's first and leading FM radio brand. Under her leadership, Radio City has grown to a national presence across 20 cities and is a leader in many of the markets it operates in.

She is a specialist in the field of media businesses and brands and prior to her entry into radio, Ms. Purohit worked in the television business with BCCL & Zee Telefilms. She has launched successful TV brands such as Zoom, India’s first lifestyle channel and also led the re-launch strategy for Zee TV, the flagship channel of Zee Telefilms.

Within India, she pioneered the concept of consolidated media–buying by launching the first-ever independent media buying agency, Lodestar in 1995. Lodestar is amongst the top 5 agencies in the country today and a part of IPG, one of the big four global advertising holding companies in the world.

Partha, a Mindtree co-founder, has worked in the IT Industry for more than 25 years.  He is known for his expertise in setting up large Offshore Development Centers handling global delivery and operations. Partha’s vision and passion for delivery excellence has helped Mindtree deliver best-in-class service, with significant value to our clients.

About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 435 million. Our experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.

Mindtree’s consulting-driven approach makes us a strategic partner to many Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our clients achieve competitive advantage through flexible and next generation global delivery models, Agile methodologies and expert frameworks.

Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking. Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.

Welcome to possible.

Mindtree reports revenue growth of 5.4% q-o-q and 15.6% y-o-y in dollar terms

Mindtree Limited, a global information technology solutions company, announced its results today for the second quarter ended September 30, 2013, as approved by its Board of Directors.

“The relentless execution of our new strategies has delivered two consecutive quarters of strong revenue growth this year. We continue to invest in expertise-led solutions and attracting top quality industry talent. This drives positive business outcomes for our customers while achieving sustainable growth” said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.


Key financial highlights:

·       In USD terms:

o   Revenue at $124 million (growth of 5.4% q-o-q / 15.6% y-o-y)

o   Net profit at $20.7 million (decline of 15.7%* q-o-q / increase of 61.2% y-o-y)

·       In Rupee terms:

o   Revenue at ` 7,696 million (growth of 18.8% q-o-q / 29.1% y-o-y)

o   Net profit at ` 1,287 million (decline of 4.9%* q-o-q / increase of 77.8% y-o-y)

* Due to higher forex gain in the first quarter

Other highlights:

·       Customers:

o   220 active customers as of September 30, 2013

o   $5 million customers grow to 21

·       Employees:

o   12,941 employees as of September 30, 2013

o   Added 1,122 employees during the quarter on a gross basis



·       Others:

o   Mindtree was selected by Forbes as one of the “Best Under A Billion” companies in the August issue of Forbes Asia 2013.

o   Mindtree recently won a Gold rating, the highest honor bestowed in each category of the 5th Annual Golden Bridge Awards.  Mindtree was honored in the category of Company Growth of the Year (new products, new offices, new employees).

o   Mindtree was selected by Microsoft as Windows Azure Circle partner.

o   Mindtree was ranked among the top global product engineering service providers by Zinnov research and analysis.


·       Dividend announcement:

o   The Board of Directors, at its meeting held on October 16, 2013, recommended an interim dividend of 50% (` 5 per equity share of par value `10 each) for the six months ended September 30, 2013.


About Mindtree

Mindtree is a global information technology solutions company with revenues of over USD 435 million. Our experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.

Mindtree’s consulting-driven approach makes us a strategic partner to many Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our customers achieve competitive advantage through flexible and next generation global delivery models, agile methodologies and expert frameworks.

Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking.

Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.

Welcome to possible.

Mindtree taps Paul Gottsegen to lead marketing, strategy & alliances

Mindtree Limited, a global information technology solutions company, today announced Paul Gottsegen will lead Marketing, Strategy and Alliances as Senior Vice-President and Chief Marketing and Strategy Officer. He will serve on the Management Council and report to CEO & Managing Director Krishnakumar Natarajan.

Gottsegen will guide the company’s strategic planning, business-unit marketing, branding, sales excellence and alliances as Mindtree continues to expand globally by delivering expertise-driven solutions with a deep understanding of both technology and industry-specific business models.

Gottsegen held leadership positions in enterprise marketing at HP, Dell, Panasas and Compaq. He was most recently CMO of Infosys. He is known for building world-class marketing teams that transform how a company designs offerings and brings them to market.

Gottsegen earned a bachelor’s degree in computer science from Brandeis University and a master’s degree in business administration from The Wharton School. He is also a member of the board of directors of the Gastric Cancer Foundation.

“Paul’s appointment comes at an exciting time as marketing will play a key role in our next stage of growth.” said Krishnakumar Natarajan, Co-founder, CEO and MD of Mindtree.  “As we gain more clients, we will continue to build an organization that scales well, and is in a great position to deliver larger and more sophisticated solutions. Paul is a key addition to the senior leadership team to keep our offerings on the leading edge and differentiate Mindtree solutions in the markets where we are focused.”

“Making the right technology partnerships and investments is critical in driving sustained differentiation and growth for any business,” said Gottsegen. “I’m thrilled to be part of the Mindtree team, and to contribute in the efforts to build an expertise-driven organization which already has earned significant admiration from the market.”

About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 435 million. Our experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.
Mindtree’s consulting-driven approach makes us a strategic partner to many Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our customers achieve competitive advantage through flexible and next generation global delivery models, agile methodologies and expert frameworks.
Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking.
Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.
Welcome to possible.
Please visit us at www.mindtree.com.

Microsoft selects Mindtree as Windows Azure Circle partner

Mindtree Limited, a global IT solutions company, today announced it 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. Windows Azure Circle partners are high achievers in commitment and focus to cloud computing, particularly influencing the adoption, performing services and developing applications on the Microsoft Windows Azure platform.
"Only a small group of enterprises in the world can claim the honor of being named a Microsoft Azure Circle Partner”, said Krishnakumar Natarajan, CEO & Managing Director, Mindtree Limited. “This recognition validates Mindtree’s deep expertise on the Windows Azure platform and is a testament for our ability to deliver world-class cloud solutions globally to our customers.  We are very pleased to be elevated by Microsoft to this partnership”, he added.
The Microsoft Azure Circle partnership positions Mindtree as a leading Systems Integrator Partner for the Windows Azure Platform, committed to providing outstanding services to enable customers’ to leverage the power of cloud. Mindtree, also a gold certified Microsoft partner, was the earliest partner, dating back to 2008, to work with Microsoft during the initial phases of Windows Azure.

Windows Azure is an open and flexible cloud platform that enables companies to quickly build, deploy, and manage applications across a global network of Microsoft-managed data centers. Enterprises can build applications using any language, tool, or framework and integrate public cloud applications with a current IT environment.

About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 435 million. Our 12,000+ experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.

Mindtree’s consulting-driven approach makes us a strategic partner to over 40 Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our customers to achieve competitive advantage through flexible and next generation global delivery models, agile methodologies and expert frameworks.

Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking.
Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.Welcome to possible.Please visit us at www.mindtree.com

Mindtree ranked among the top global product engineering service providers by Zinnov research and analysis

Mindtree Limited, a global IT solutions company, announced today that it has again been selected as a leader in the product engineering services space by Zinnov, a leading globalization and market expansion advisory firm, in its recently released report, ‘Global Service Provider Ratings- 2013.’  In the overall rankings, Mindtree is placed in the top leadership quartile for its services and capabilities.
Mindtree’s expertise is highlighted in multiple sub-verticals including automotive, consumer electronics, semiconductor, enterprise software, computer peripherals and storage. Most notably, Mindtree was listed in Zinnov’s ‘leadership zone’ in the telecommunications and consumer software sectors. This reflects Mindtree’s ability to execute end-to-end lifecycle services from product concept to product development, testing and deployment and forging ‘Go-to-Market’ partnerships.

“The Zinnov rankings are an important guide for current and potential customers evaluating partners for ER&D services. Our inclusion in the leadership zone is great validation for Mindtree and a valuable tool for us as we work with our existing customers and cultivate relationships with new ones,” said Parthasarathy NS, President, Enterprise Service Lines, Mindtree. “Mindtree Minds are constantly devising innovative solutions and services to meet our customers’ expectations.  Zinnov’s recognition is further endorsement of our expertise in the market and we are very pleased that Mindtree is once again ranked prominently.”
Zinnov partners with service providers to identify areas of key competence based on detailed study and analysis. It brings deep insights into the product engineering industry, with consultants who are widely considered experts in the field. Zinnov regularly releases comprehensive benchmarking studies and reports that are considered an industry standard.
About Zinnov
Founded in 2002, Zinnov – meaning Zeal in Innovation – is a leading Globalization and Market Expansion Advisory firm, with specialization in areas like Global Sourcing, Emerging Markets Expansion, Human Capital Optimization, Small & Medium Businesses, Innovation, Cloud Computing and Enterprise Mobility. Zinnov provides advice to global leaders in business and technology and works collectively with them to tackle prevailing organizational challenges by analyzing changing dynamics, improving performance, and building institutional capability. The services delivered to its clients through advanced reasoning and analytical techniques, provides solutions that help in integrating organizational vision, business definition and processes.

About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 435 million. Our 12,000+ experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.
Mindtree’s consulting-driven approach makes us a strategic partner to over 40 Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our customers to achieve competitive advantage through flexible and next generation global delivery models, agile methodologies and expert frameworks.
Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking.
Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.
 

Mindtree launches Gladius- a video management software for advanced surveillance

Setting new standards in surveillance, Mindtree Limited, a global information technology solutions company, today launched Gladius, a video management software targeted at city surveillance, enterprise sectors, industrial and retail industries.

“Gladius Video Management Software is a testimony of Mindtree’s continued focus to engineer innovative solutions that simplify business and adds unique value to our customers,” said S Janakiraman, CTO, Mindtree Limited. “It is a one stop solution for today’s security and surveillance requirements of all small and mid-sized customers.” he added.

Gladius Video Management Software will provide benefits like scalability, advanced video analytics, smart video streaming, and can be unified with video data, access control events and alarms. It supports a wide range of industry-leading IP cameras and encoders, and will also be available as an application for iOS and Android platforms for on-the-move mobile surveillance.

Mindtree has strategically worked with many leading security system integrators and camera vendors across the globe. The solution will be offered to customers in India and globally through a network of system integrators who will help customers with deployment and training on the software usage.


About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 430 million. Our experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.
Mindtree’s consulting-driven approach makes us a strategic partner to many Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our customers achieve competitive advantage through flexible and next generation global delivery models, agile methodologies and expert frameworks.
Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking.
Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.

Welcome to possible. Please visit us at www.mindtree.com. For more information

SAP and Mindtree partner to welcome customers to the cloud

Mindtree, a global information technology solutions company, today announced a partnership with SAP America to enable customers execute their Cloud strategies on SAP’s cloud applications like SuccessFactors and mobile platforms.

Mindtree has been an SAP Partner since 2005 and a SuccessFactors product development partner for the past 6 years.  It continues to play a critical role in helping customers identify and implement ideal SAP solutions to address their unique business needs. The new alliance will help Mindtree’s customers take advantage of its expertise in application development and deployment on cloud and mobile platforms. The partnership will complement SAP’s product landscape to provide best- in-class human capital management (HCM), mobile and analytics solutions on premise and on cloud.

"Customer success spells success for us. They want more and more options in how they take advantage of cloud and mobility platforms to address their IT needs,” said Arun Rangaraju, Head, Package Solutions at Mindtree. “Our partnership with SAP reinforces our commitment to deliver innovative solutions to our customers. This ties back to our mission to engineer meaningful technology solutions to help businesses and societies flourish,” he added.

With a strong SAP consulting talent, domain expertise and industry best practices, Mindtree will enable customers transform their business to achieve desired business growth. The partnership will allow Mindtree to analyze and evaluate the application and business maturity levels and make the transition to the cloud successfully for the customer.

About Mindtree
Mindtree is a global information technology solutions company with revenues of over USD 400 million. Our experts are driven to engineer meaningful technology solutions to help businesses and societies flourish.
Mindtree’s consulting-driven approach makes us a strategic partner to many Fortune 500 enterprises. Our domain expertise, unique culture and technical excellence help businesses thrive and be future-ready. We enable our customers achieve competitive advantage through flexible and next generation global delivery models, agile methodologies and expert frameworks.
Mindtree’s ability to devise solutions is equally matched by our ability to execute them. Our differentiation stems from a unique balance of human perspective with deep strategic thinking.
Our values - collaborative spirit, unrelenting dedication and expert thinking help us see possibilities where others see a full stop.Welcome to possible.Please visit us at www.mindtree.com