February 25, 2009 - Bangalore, India
MindTree Ltd. (NSE: MINDTREE), a global IT and R&D Services company, today announced that it has been selected in the Leaders category for The 2009 Global Outsourcing 100 List by the International Association of Outsourcing Professionals (IAOP). The numerical rankings will be unveiled in a special advertising feature produced by IAOP in the May 4th edition of the Fortune magazine.
An independent panel of industry-recognized leaders in outsourcing chose MindTree as a Leader among a full spectrum of outsourcing services companies ranging from information technology and business process outsourcing, to facility services, real estate and capital asset management, manufacturing and logistics. MindTree's selection as a Leader is based on a set of measurable standards such as size, revenue, depth of competencies, customer satisfaction levels, etc.
Since the inception of the IAOP Global Outsourcing 100 in 2006, MindTree has been named to the list annually. Last year, MindTree was ranked 54th, while also being named one of the "20 best companies by services offered" in the category of product research, development and manufacture. The recognition adds to other industry-level accolades that MindTree has been chosen for, notably the National Award for Excellence in Corporate Governance for 2007-'08.
"We are pleased to be named among the world's leaders in outsourcing for the second consecutive year by IAOP," said MindTree CEO Krishnakumar Natarajan. "This recognition is an indication of MindTree's capability to deliver best-in-class services across a wide range of cutting edge technologies. As a global leader in outsourcing, we are committed to serve our customers across the world by offering a unique value proposition."
Jagdish Dalal, managing director, Thought Leadership, IAOP and chairman of the judges' panel commented, "Getting named to The Global Outsourcing 100 list is a great recognition, and these companies should be proud of achieving excellence in the field. Each year the competition to be named among the top 100 companies continues to reach higher levels, as the outsourcing industry continues to grow and mature in many markets. This year, the judges evaluated the most diverse set of applicants we have ever had, with ongoing strong interest from Asia-Pacific and Europe."
IAOP brings together the world's leading outsourcing customers, providers and advisors in a powerful, active and growing global association to exchange thought leadership, share best practices and network to maximize their effectiveness at using outsourcing as a management tool.
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 an 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, and the National Award for Excellence in Corporate Governance. MindTree is publicly listed in India. Please visit us at www.mindtree.com.