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Mindtree named as a leading mid-sized service provider by Everest Research Institute

Recent report recognizes MindTree’s leadership based on the company’s scale and financial strength; vertical-market and services expertise; and global delivery capabilities.

BANGALORE, INDIA, December 7, 2010:

MindTree Ltd., a global IT Solutions company, today announced that it has been named a leading mid-sized service provider in Everest Research Institute’s November 2010 report, “Survival of the Differentiated – The Mantra of Success for Tier-2 Service Providers.” MindTree is recognized as a leading mid-sized provider based on the company’s differentiated offerings and ability to deliver business value to customers beyond cost savings.

Everest cites MindTree’s strong competitive position and growth along with its focus on Infrastructure Management Services, for Travel, Banking, Financial Services, Insurance (BFSI) industries, manufacturing, and strategic focus on Testing and Product Engineering Services as key differentiators of the company. According to the report, MindTree has significantly outgrown India’s offshore IT services industry over the past three years with a 27 percent compound annual growth rate (CAGR) compared to 17 percent for the overall market.

“Mid-sized services companies have established themselves as an important part of the Indian IT services landscape. However those that differentiate their offerings and deliver business value beyond cost savings, are the ones that are strongly positioned for growth in the competitive global services marketplace.” said Jimit Arora, Research Director, Everest Research Institute.

According to the report, mid-sized providers represent approximately 30 percent of India’s offshore IT services market. Everest defines mid-sized companies as those with revenues in the range of $100 million to $1 billion. The delivery footprint of these companies is largely concentrated in India.

“IT organizations from the small and medium business (SMB) to the Fortune 500 enterprise are increasingly realizing the value that mid-sized service companies can bring to their business.” said Krishnakumar Natarajan, CEO and managing director, MindTree. “MindTree has built a diversified portfolio of services built around our market understanding and technical expertise, to address the specific challenges these customers face. As recognized by Everest Research, our efforts have strongly positioned MindTree to not only be a leader among similarly-sized services companies, but to also compete with the larger providers and win business in our areas of expertise.”

The report also acknowledges MindTree’s investments in expanding delivery outside India. MindTree’s hybrid delivery model called ‘OneShore’ infuses global development from multiple locations, but with one vision. This approach enables relationships that balance quality, cost savings and localization, while enhancing collaboration and project management. Through the OneShore™ model, customers gain access to a transparent partner that delivers business results.

About Mindtree

MindTree Ltd. is a global IT Solutions company specializing in IT Services, Independent Testing, Infrastructure Management and Technical Support (IMTS), Knowledge Services and Product Engineering, which comprises of R&D Services and Software Product Engineering. MindTree partners with its clients to create a transparent, value-based relationship. Our people build innovative solutions in a wide range of technology domains that enable our customers to succeed in their business goals.

MindTree is ranked 43rd across all industries and 19th amongst IT services companies by The International Association of Outsourcing Professionals in their annual list of the Top 100 Global Outsourcing Companies. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Great Places To Work Institute, Hewitt Associates and Mercer. MindTree was ranked No. 1 among the Most Admired Knowledge Enterprise (MAKE) India Award winners for the second consecutive year in 2008. MindTree was ranked No. 2 in Asia and declared the overall winner in India in the Asiamoney Corporate Governance Poll 2009. The Company is publicly listed in India. Please visit us at www.mindtree.com.

For more information, contact:

Debi Senapati
Mindtree
+91 99805 56784
Debi.senapati@mindtree.com

Jay Russo
LVA Communications
860-739-559
jay@lva.com