Acquisition will Strengthen MindTree's Infrastructure Management Services, Entry into Remote Desktop Management Services
Bangalore, April 22, 2010:MindTree Ltd., a global IT solutions company, today announced that it has entered into a definitive agreement to acquire the business (including people, customer contracts and Intellectual Properties) of 7Strata, a Remote Infrastructure Management (RIM) services provider. The acquisition will be effective 1 May 2010 and is subject to certain closing conditions which are expected to be completed shortly.
7Strata is a Chennai-based, privately held company that offers end-to-end, fully integrated, remote IT monitoring and management services. 7Strata began its operations in October 2007. The 7Strata team has developed a proprietary infrastructure management software platform to offer RIM services. The ITIL-compliant platform helps customers save money and improve service levels by having an automated and integrated tool to manage IT operation processes.
"MindTree's Infrastructure Management and Technical Support (IMTS) business has shown Industry leading growth over the last 4 years. The acquisition of 7Strata will provide MindTree the advantage of offering platform-based RIM services to our customers globally. The acquisition will also enable MindTree to offer remote desktop management services for our India-based and global customers," said Parthasarathy NS, MindTree President and CEO, Independent Testing & IMTS.
"In a short span of less than 3 years, 7Strata has not only developed a unique platform to offer RIM services to our customers but has also built a strong presence and customer base in India. We are excited about becoming a part of the MindTree team. The acquisition will not only enable the 7Strata team to access the global customer base of MindTree but also help leverage its well-established brand and delivery excellence processes," said 7Strata Co-Founder and Chief Executive Officer George Zacharias.
As a part of the acquisition, the core management and delivery team of 7Strata will become a part of MindTree's IMTS business.
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 is ranked 43rd among the leaders in The 2010 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