MindTree News and Events

MindTree to Showcase Benefits of Managing Infrastructure for the Cloud Utilizing the Windows Azure Platform

MindTree's Media Relations Dept — Wed, 17 Mar 2010 11:05:58 +0000

MindTree to demonstrate a success story at the Forrester Infrastructure and Operations Forum in Dallas

DALLAS, TX, March 17, 2010, Forrester Infrastructure & Operations Forum: MindTree Limited, a global IT Solutions Company, today announced that it will demonstrate the benefits of running and managing an enterprise infrastructure on the Windows Azure platform at the Forres-ter Infrastructure and Operations (I&O) Forum. The demonstration will specifically present on how to use cloud as the post-recession strategy for improving infrastructure efficiencies, driving down costs and increasing savings.

MindTree is a silver sponsor of the Forrester Infrastructure and Operations (I & O) Forum, to be held in Dallas, Texas, on March 17 and 18, 2010. MindTree, at booth # 206, will present its success in improving efficiencies in infrastructure management by using the Windows Azure platform.

“MindTree strongly believes that cloud computing will play a key role in the post-recession strategies of many companies. Cloud computing can help companies improve efficiencies, reduce significant upfront and maintenance costs, improve savings, enhance security and contribute to eco-friendly initiatives,” said MindTree General Manager and Head of Managed Services, Raju Chellaton. “While cloud computing delivers what it promises, there are still a few questions that CIOs need to answer before following their peers. MindTree has leveraged its expertise in infrastructure management with Microsoft’s leadership in cloud services to help IT leaders make informed decisions for their business.”

As a Microsoft Gold Certified Partner and a Preferred Vendor, with a relationship spanning over a decade, MindTree has significantly invested in Microsoft technologies and developed expertise in a range of Microsoft products and applications including the Windows Azure platform. MindTree’s rich knowledge of Microsoft tools, technologies, and products is backed by experience of executing more than 700 projects for Microsoft.

“We are excited to see the ways MindTree is utilizing the Windows Azure platform,” said Vikram Bhambri, Director of Program Management, Windows Azure, Microsoft. ?Since cloud services can help organizations drive down cost, MindTree, with its rich expertise in the Win-dows Azure platform, has the capability to deliver these unique advantages to its customers.”

MindTree’s Infrastructure Management and Technical Support (IMTS) business unit offers a comprehensive portfolio of Consulting & Implementation Services (CIS), Managed Services (MS), Security Services (SS) and Technical Support Services (TS) for better risk management, better control over Internal Infrastructure and Operations, and improved flexibility to adapt to business situations. Our range of services ensures that while we manage your IT Infrastructure and provide support services to your customers, you concentrate on your core business. Our IMTS suite of offerings is aimed at delivering innovative operational excellence and service transformation by leveraging our experience, technology and automation.

Visit MindTree-Microsoft at booth # 206 at the Forrester Forum and interact with the MindTree Leadership Team.

About MindTree
MindTree Ltd. is a global IT Solutions company specializing in IT Services, Independent Test-ing, Infrastructure Management and Technical Support (IMTS), Knowledge Services and Prod-uct 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 custom-ers 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.

Safe Harbor
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.

For more information, contact:

Manoj Chandran
MindTree Limited
080-67061000
manoj_chandran@mindtree.com

Jay Russo
LVA Communications
860-739-5598
jay@lva.com

MindTree Steps up Efforts to Leverage Middle East IT Services Market

MindTree's Media Relations Dept — Fri, 26 Feb 2010 11:32:44 +0000

February 25, 2010

Region to play key role in the company’s plan to become a USD 1 billion entity

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).
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About MindTree Ltd.

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.

Safe Harbor

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.

For more information, please contact:

MindTree Limited
Manoj Chandran
+91-80-67064000
manoj_chandran@mindtree.com
www.mindtree.com

MindTree Unveils Bluetooth Low Energy Stack on TI’s WiLink 7.0 Solution

MindTree's Media Relations Dept — Wed, 24 Feb 2010 10:25:16 +0000

Becomes the first independent stack provider to demonstrate Bluetooth low energy stack

Barcelona, Spain, February 15, 2010: MindTree Ltd., a global IT solutions company and a leading provider of Bluetooth Intellectual Property (IP) solutions, today announced the launch of its EtherMind Bluetooth low energy stack on the quad-radio, single-chip WiLink? 7.0 solution from Texas Instruments Incorporated (TI).

MindTree?s Bluetooth low energy stack enables a low-power and interoperable wireless communication between a mobile phone and its accessories, opening up a new set of interesting use cases like caller ID displays on watches and data transfers from health devices to the Internet via mobile phones. The Bluetooth low energy stack supports a broad range of profiles, including PUID, time and network availability, which will drive a new breed of mobile applications across a variety of markets. Utilizing the stack?s maturity and benefits, TI?s WiLink 7.0 solution will allow eager developers to get WiLink 7.0 solution-based designers off the ground more quickly and efficiently.

MindTree?s Bluetooth low energy stack, which has been validated at various UnPlug Fests, is optimized for low-memory footprint and has APIs that enable easy integration with the resident applications on the platform. The stack is built on clean abstraction layers and is written in ANSI C, enabling easy portability onto a variety of operating systems and platforms.

?The development of MindTree?s Bluetooth low energy stack is another milestone in our global leadership in Bluetooth technology,? said MindTree President and CEO, R&D Services, Vinod P. Deshmukh. ?This was made possible by our deep rooted collaboration with TI, which has resulted in the launch of numerous successful technology solutions.?

?TI works closely with its ecosystem partners like MindTree to achieve the milestones that will enable the next round of eye-catching devices and applications,? said Eran Sandhaus, director of marketing, wireless connectivity solutions group, TI. ?MindTree and TI hold unique positions at the forefront of Bluetooth low energy development with support for both single- and dual-mode solutions, and today?s advancement will speed the development process for designers working with our WiLink 7.0 solution. As a key enabler of Bluetooth low energy technology in our ecosystem, MindTree helps our customers turn mobile devices into robust ?gateways,? spurring boundless connections to other devices.?

MindTree?s Bluetooth stack and profiles are qualified for Bluetooth 2.1+EDR, and have been proven in multiple products for interoperability and robustness by world-leading companies like NEC Corporation, GN Netcom and Logitech. The products include headsets, handsets and automotive infotainment platforms.

MindTree?s Bluetooth low energy stack, based on the draft specification from the Bluetooth SIG, will be demonstrated for the first time at the Mobile World Congress 2010 on February 15 and 16 in Barcelona, in TI?s booth (8A84, Hall 8). The stack will be demonstrated along with TI?s WiLink 7.0 single-chip solution, running the Android operating system communicating with a gaming device based on TI?s CC254x single mode Bluetooth Low Energy solution.

About MindTree Ltd.

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 Wireless Products. 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.

Safe Harbor

For more information, contact:

MindTree Limited
Apuarv Sethi
+91-80-67064000
apuarv_sethi@mindtree.com

Corporate Voice | Weber Shandwick
Anya G D?Souza
+91-9845525632
anya@corvoshandwick.co.in

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Trademarks:

WiLink is a trademark of Texas Instruments. Other product or service names mentioned herein are the trademarks of their respective owners.

MindTree is a Silver Sponsor in Confluence 2010

MindTree's Media Relations Dept — Tue, 09 Feb 2010 13:54:25 +0000

MindTree is pleased to announce its participation as a Silver Sponsor in Confluence 2010, a global R&D conference, conducted by Zinnov Management Consulting on 17th and 18th Mar 2010, in Santa Clara, USA.

Link to the event page.

http://www.mindtree.com/outsourced-product-development/event/Confluence2010/

MindTree Executive Chairman Ashok Soota Receives Prestigious Golden Peacock Award for Technology Leadership – 2010

MindTree's Media Relations Dept — Wed, 20 Jan 2010 10:03:43 +0000

January 20, 2010 - Bangalore, INDIA

MindTree Ltd., a global IT solutions company, today announced that its co-founder and Executive Chairman Ashok Soota was conferred the Golden Peacock Award for Technology Leadership - 2010 for his ‘outstanding achievements and leadership qualities’. The award, instituted by the Institute of Directors (IOD), was given away on January 16, 2010 at the IOD Convention 2010 held in Bangalore.

Under the Chairmanship of Justice P N Bhagwati, Former Chief Justice of India and Member - UN Human Rights Commission, the jury of the Golden Peacock Awards recognized Ashok Soota for his immense contribution to India’s IT services industry.

“It is a moment of great pride for all MindTree Minds that Ashok Soota has been conferred the prestigious Golden Peacock Award for Technology Leadership - 2010,” said MindTree CEO & Managing Director Krishnakumar Natarajan. “This recognition is a testimony to his significant contributions in the evolution of India’s IT services industry,” he added.

The Golden Peacock Awards recognize excellence in quality, corporate governance, innovation, training, corporate social responsibility, environment management, ecological leadership and business leadership. Eligible institutions span the public, private, non-profit, government, business, manufacturing and service sectors.

About MindTree Ltd.
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.

Safe Harbor
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.

For more information, contact:
Ashwini Rajeswara
MindTree Limited
91-80-67064000
ashwini_rajeswara@mindtree.com

Jay Russo
LVA Communications
860-739-5598
jay@lva.com

MindTree’s Q3 Revenue Grows 7.9% QoQ in Dollar Terms; PAT Up 10.3%

MindTree's Media Relations Dept — Tue, 19 Jan 2010 11:29:02 +0000

January 19, 2010 - Bangalore, INDIA

Revises PAT and EPS Guidance Upwards for FY 2009-10

MindTree Ltd., a global IT Solutions company, announced its results today for the quarter ended December 31, 2009, as approved by its Board of Directors. These figures represent the consolidated results for MindTree and its subsidiary, MindTree Wireless Pvt. Ltd., which it acquired in the previous quarter.

Consolidated Financial Highlights for the Quarter Ended December 31, 2009

Revenues were $70.44 Million, indicating a growth of 7.9% Quarter over Quarter (QoQ) and a decrease of 5.6% Year over Year (YoY). In rupee terms, revenues were Rs 3,318.5 Million, representing a QoQ increase of 5.4% and a YoY decrease of 8.8%.
Profit After Tax (PAT) in dollar terms was $11.42 Million, indicating a growth of 10.3% QoQ and 428.9% YoY. In rupee terms, PAT was Rs 537.7 Million, indicating a growth of 7.8% QoQ and 516.4% YoY.

Other Q3 FY 2009-10 Highlights

MindTree was adjudged the best Indian company in Asia in Asiamoney’s Corporate Governance Poll 2009.
MindTree was ranked among the fastest growing technology companies in the Deloitte Technology Fast 500 Asia Pacific 2009 survey.
MindTree won both India and Asia Most Admired Knowledge Enterprise (MAKE) awards by Teleos, in association with The KNOW Network.
35 new customers were added during the quarter, bringing the current active customer base to 253. MindTree now has five $10 Million+, thirteen $5 Million+, and fifty eight $1 Million+ customers. Some of the significant wins during Q3 were:
- A Fortune Global 500 company in APAC for infrastructure services
- A large customer in the storage area for testing and engineering services
- A large customer in the medical devices space for engineering services

The Company added 462 people on a gross basis during Q3, taking our total people strength to 8,127 as of December 31, 2009.
Utilization (including trainees) increased during the quarter to 71.4% as compared to 64.7% in Q2.
Attrition on a trailing 12-month period increased to 10.7% from 9.7 % in Q2.

Revised PAT And EPS Guidance for FY 2009-10
MindTree has proposed to revise its PAT and EPS guidance upwards for FY 2009-10. Accordingly, on a consolidated basis:

Our revenue guidance is $269.5-270.5 Million (Rs 12,777-12,825 Million)
PAT guidance is $40.5-41.25 Million (Rs 1,920-1,956 Million)
EPS is expected to be in the range of Rs 48.6-49.5

The above guidance assumes an exchange rate of INR 47.41 = 1USD for FY 2009-10.

Change in Guidance Policy
Since its Initial Public Offering (IPO), MindTree has adopted a policy of providing an annual guidance on revenues, PAT and EPS. Given the changes in the external environment, we will discontinue this practice from FY 2010-11. However, in line with our philosophy of high transparency, we will provide qualitative information in reasonable detail and frequency to help investors understand the trends we are seeing in our business.

“We have begun to see a slow revival in the global economy which we hope will sustain itself and grow over the next few quarters. We are also seeing more confidence in our customers about their businesses,” said MindTree CEO & Managing Director Krishnakumar Natarajan. “We are confident about our outlook for the future.”

For more information, contact:
Ashwini Rajeswara
MindTree Limited
91-80-67064000
ashwini_rajeswara@mindtree.com

Jay Russo
LVA Communications
860-739-5598
jay@lva.com

MindTree Ranked Among The Fastest Growing Technology Companies On The Deloitte Technology Fast 500 Asia Pacific 2009

MindTree's Media Relations Dept — Thu, 07 Jan 2010 05:54:20 +0000

January 07, 2010 - Bangalore, INDIA

MindTree’s technology innovation and customer commitment propel revenue growth rates of more than 109 percent over the past three years

MindTree Ltd., a global IT Solutions Company, today announced that it has been ranked amongst the fastest growing technology companies in Asia Pacific by Deloitte Technology Fast 500 Asia Pacific 2009. The rankings are based on revenue growth over the past three years, during which time MindTree posted a growth rate of more than 109 percent.

“We are very pleased that we have been ranked by Deloitte Technology Fast 500 Asia Pacific as amongst the fastest growing technology companies in Asia Pacific,” said MindTree CEO and Managing Director Krishnakumar Natarajan. “In the last three years, MindTree has realized strong revenue growth, which can be attributed to our differentiated positioning as a ’summation of specialists’, and focus on customer success through innovative solutions and happy people. As the global economy improves, we look forward to maintaining a high growth rate, and achieve our vision of $1 billion in revenues by FY 2014.”

“Making it to the Deloitte Technology Fast 500 Asia Pacific ranking is a testament to a company’s commitment to technology,” said Deloitte’s Technology Fast 500 Asia Pacific program partner in charge, Yoshitaka Asaeda. “With its growth rate over the past three years, MindTree has proven that its leadership has the vision and determination to grow in difficult conditions.”

The Technology Fast 500 list is compiled from Deloitte’s Technology Fast 50 Asia Pacific programs, nominations submitted directly to the Technology Fast 500, and public company database research.

Entrants must also be public or private companies headquartered in Asia Pacific and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues, manufactures a technology related product, or devotes a significant proportion of revenues to the research and development of technology.

About MindTree Ltd.
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 Wireless Products. 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.

For more information, contact:
Ashwini Rajeswara
MindTree Limited
91-80-67064000
ashwini_rajeswara@mindtree.com

Jay Russo
LVA Communications
860-739-5598
jay@lva.com

MindTree Adjudged Best Indian Company in Asia in Corporate Governance by Asiamoney

MindTree's Media Relations Dept — Wed, 06 Jan 2010 06:31:41 +0000

January 06, 2010 - Bangalore, INDIA

Ranked No. 2 in Asia, MindTree sweeps all the categories in India to emerge the winner; MindTree CFO Rostow Ravanan adjudged Best Investor Relations Officer in India

MindTree Ltd., a global IT Solutions Company, announced today that it has been ranked 2nd in Asia in the Corporate Governance Poll 2009 conducted by Asiamoney magazine. MindTree is ranked No. 1 Best Overall For Corporate Governance in India. In addition to being picked up as the second best company overall in Asia, MindTree is ranked No. 1 in the continent (excluding Japan) in the two categories of ‘Responsibilities of Management and the Board of Directors’ and ‘Shareholders’ Rights and Equitable Treatment’. MindTree is ranked among the top three in the categories of ‘Disclosure and Transparency’ and ‘Investor Relations’.

In India, MindTree is ranked No. 1 in all the categories, thereby winning the overall No. 1 rank in Corporate Governance. MindTree’s Chief Financial Officer Rostow Ravanan has been chosen as ‘The Best Investor Relations Officer in India’.

Asiamoney’s Corporate Governance Poll surveyed 104 senior executives and research analysts from 96 firms, and cited more than 250 companies across the region to discover where Asian companies rank in several categories involving corporate clarity. The publication stated, “The results of this survey are especially notable, given that the polling period coincided with some of the most pronounced financial market volatility in history.”

“We are delighted to be once again recognized for our efforts in corporate governance, this time in the global markets. MindTree had earlier won the National Award for Excellence in Corporate Governance in India for 2007-08. The recognition in the Asiamoney Corporate Governance Poll 2009 is a testimonial of our focus on creating a globally admired organization that is rich in values and culture,” said MindTree Executive Chairman Ashok Soota.

The hallmarks of MindTree’s Corporate Governance philosophy are ethical business conduct, transparency and commitment to values, which in turn retain and enhance stakeholders’ trust. The organization’s value system, termed CLASS (Caring, Learning, Achieving, Sharing, Social Responsibility), lies at the core of it.

About MindTree Ltd.
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 Wireless Products. 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.

For more information, contact:
Ashwini Rajeswara
MindTree Limited
91-80-67064000
ashwini_rajeswara@mindtree.com

Jay Russo
LVA Communications
860-739-5598
jay@lva.com

Drumjam rings in MindTree decennary

MindTree's Media Relations Dept — Sun, 03 Jan 2010 06:31:56 +0000

DNA, January 3, 2010

At MindTree, the global IT solutions company, 2010 also ushered in the 10th anniversary celebrations of the organisation. And on Day 2 of the New Year, there could have been no better way than to gather the entire, big “family” at Bangalore International Exhibition Centre (BIEC), near Peenya.

MindTree Delivers a One-Stop-Shop for Information & Data Management Needs of Companies

MindTree's Media Relations Dept — Thu, 10 Dec 2009 06:34:41 +0000

BeyeNETWORK, December 10, 2009

Scott Staples, Co-founder of MindTree and President and CEO of its Knowledge Services (KPO) business unit, recently participated in an exclusive interview with Ron Powell and the BeyeNETWORK. In this interview, Staples explains how MindTree’s Knowledge Services business provides a one-stop-shop all of their clients’ data-specific needs including: data management, data services, analytics and business intelligence.