MindTree Ltd., a global IT solutions company, has announced that it is stepping up its efforts to leverage the growth of the Middle East IT services market, which is expected to hit USD 3.5 billion by 2011, according to recent reports from the Economist Intelligence Unit (EIU). Identified by the Company as one of its fastest growing regions, the Middle East forms part of MindTree's 'Rest of the World' (ROW) market along with Japan, Australia and Singapore, which collectively contributed 10.8 per cent to its total earnings in Q3 FY '09-'10. MindTree sees the Middle East region to play a key role in its plan to become a USD 1 billion organization. MindTree is taking particular interest in the UAE, with EIU forecasting that the country's IT services market will grow annually by 13 per cent to reach almost USD 1 billion by 2011. MindTree is gearing up to address the need by further strengthening its alliance management, boosting its sales force, initiating and reinforcing strategic partnerships with local companies, and focusing on key sectors such as the government and the manufacturing industry. "After a decline in 2009, the IT services market in the Middle East region is poised for another round of growth in 2010. Companies in the region are becoming increasingly interested in deploying high-end technologies to gain competitive advantage and save costs," said MindTree President and CEO, IT Services, Anjan Lahiri. "Through the years, MindTree has partnered with leading technology players in the region, and delivered leading edge solutions to our customers." The demand for decision-makers to have access to accurate intelligence at their fingertips is also driving the growth of data warehousing and business intelligence in the Middle East, particularly in the UAE. Going beyond the UAE, MindTree has also outlined specific plans to work with strategic local partners for markets such as Saudi Arabia, Qatar and Kuwait following its success in Oman and Bahrain. Specializing in IT services and ERP, independent testing, Infrastructure Services, and Analytics, MindTree has completed a number of high-profile implementations for several prestigious organizations in the region. The company also maintains strong relationships with Oracle (Oracle Partner), SAP (Partner Edge Status), IBM and Microsoft (Service Ready Partner). ------------------------------------------------------------------------------------------
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
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, Software Product Engineering and Next In Wireless. 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 was ranked 45th among the leaders in The 2009 Global Outsourcing 100 by the International Association of Outsourcing Professionals. 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