August 18, 2008 - Bangalore, India
The Foundation will focus on supporting primary education and differently-abled persons
MindTree Limited ("MindTree"), a global IT and R&D Services Company, today announced the launch of MindTree Foundation, a not-for-profit organization. The announcement coincides with the 9th anniversary of MindTree.
MindTree Foundation will function as a corporation under the oversight of a specially constituted Board of Directors, and will work globally in the area of supporting primary education and differently-abled persons, including the use of assistive technologies. MindTree Foundation will be led by a full-time CEO. Until a permanent CEO is identified, MindTree Gardener Subroto Bagchi will lead the Foundation.
MindTree Foundation has been set up with a corpus fund from MindTree and donations made by Aztec and MindTree Minds.
"MindTree has always been known for its social sensitivity, which is an integral part of our value system, called CLASS. Our association with differently-abled children and our work in the area of primary education goes back to the days of our inception. It has been our endeavor to bring the various social responsibility initiatives we have undertaken over the years under one umbrella," said MindTree Chairman & Managing Director Ashok Soota. "The launch of MindTree Foundation makes this 9th Anniversary an historic occasion for us. More than the power to make a difference through money, MindTree Foundation will seek to establish higher ground."
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 Limited is a global IT and R&D Services Company co-headquartered in the U.S. and India. With a passion for customer satisfaction, MindTree partners with its clients to create a transparent, value-based relationship. Our domain experts deliver business-enabling solutions by leveraging a consulting led, framework-based and IP-driven approach. MindTree's IT Services business provides a range of services to CIOs across a variety of industry segments. Our R&D Services business works with Technology companies to help build innovative products by providing Product Realization services. MindTree has acquired 80% equity stake in Aztecsoft Ltd., a global leader in outsourced product development and independent testing. The Company intends to complete the merger by April 2009.
MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. MindTree is publicly listed in India. Please visit us at www.mindtree.com.