Mindtree Limited was an Indian multinational

information technology Information technology (IT) is a set of related fields within information and communications technology (ICT), that encompass computer systems, software, programming languages, data processing, data and information processing, and storage. Inf ...

services and

consulting A consultant (from "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice or services in an area of specialization (generally to medium or large-size corporations). Cons ...

company, headquartered in

Bangalore Bengaluru, also known as Bangalore (List of renamed places in India#Karnataka, its official name until 1 November 2014), is the Capital city, capital and largest city of the southern States and union territories of India, Indian state of Kar ...

. Mindtree was acquired by Larsen & Toubro in 2019, before being merged with L&T Infotech (LTI) in 2022 to form LTIMindtree. The company had business interests in

e-commerce E-commerce (electronic commerce) refers to commercial activities including the electronic buying or selling products and services which are conducted on online platforms or over the Internet. E-commerce draws on technologies such as mobile co ...

, mobile applications,

cloud computing Cloud computing is "a paradigm for enabling network access to a scalable and elastic pool of shareable physical or virtual resources with self-service provisioning and administration on-demand," according to International Organization for ...

, digital transformation,

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, which also falls under and directly relates to the umbrella term, data sci ...

, testing, enterprise application integration, 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 software—typically a suit ...

. Mindtree had 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, officially the Republic of Mauritius, is an island country in the Indian Ocean, about off the southeastern coast of East Africa, east of Madagascar. It includes the main island (also called Mauritius), as well as Rodrigues, Ag ...

. It was funded by the

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

firms Walden International and Sivan Securities and received further funding in 2001 from the Capital Group and Franklin Templeton. It became a

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

in 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 based in Mumbai. It is the 6th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024. Established with t ...

and National Stock Exchange. Its IPO debuted in February 2007, and closed in 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" in September 2012. In 2012, Mindtree set up its first U.S. delivery center (USDC) in Gainesville,

Florida Florida ( ; ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders the Gulf of Mexico to the west, Alabama to the northwest, Georgia (U.S. state), Georgia to the north, the Atlantic ...

, under the leadership of Scott Staples, co-founder and Global Head of Sales. In 2017, the company had 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 Accenture plc is a global multinational professional services company originating in the United States and headquartered in Dublin, Ireland, that specializes in information technology (IT) services and management consulting. It was founded in 1 ...

where he was the managing director as well as the director for delivery for advanced technology centers in

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

. 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.

Services

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

Business Process Management Business process management (BPM) is the discipline in which people use various methods to Business process discovery, discover, Business process modeling, model, Business analysis, analyze, measure, improve, optimize, and Business process auto ...

, Engineering R&D, Enterprise Application Services, Testing, and Infrastructure Management Services. 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.

Employees

Mindtree has a total of 35,071 employees as of fiscal year 2022. The workforce consists of employees from over 80 nationalities working from various offices around the globe. Out of 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 supporting the lives of people with disabilities and enhancement in the quality of primary education. Mindtree Foundation was incorporated in 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 Bengaluru, also known as Bangalore (List of renamed places in India#Karnataka, its official name until 1 November 2014), is the Capital city, capital and largest city of the southern States and union territories of India, Indian state of Kar ...

, India, into an entrepreneur through a structured and governed waste management framework. * Individual Social Responsibility – Employees had joined 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 Bengaluru 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 formerly listed on the National Stock Exchange of India Companies formerly listed on the Bombay Stock Exchange