MindTree Limited's Microsoft Technology Practice Achieves Numerous Milestones In First Two Years

Business Wire,  May 19, 2008  

• E-mail
• Print
• Link

MindTree's Microsoft Practice experiences revenue growth of more than 50% this year, with new customers including the world's largest business software developer

WARREN, N.J. -- MindTree Limited, a global IT and R&D services company, announced today that its Microsoft Technology Practice has experienced record growth and esteemed customer wins since its inception in 2006. During the last two years, the practice has grown its revenues by more than 50 percent, delivered the single largest project in MindTree history, achieved Microsoft Gold Certified Partner Status, and grown to a team of more than 850 MindTree Minds.

"MindTree's Microsoft practice has grown far beyond our expectations in a relatively short period of time," said Krishnakumar Natarajan, President and CEO of MindTree IT Services. "Over the past two years, we have been able to leverage our deep roots in delivering Internet solutions built around Microsoft technologies to build a practice that focuses specifically on Microsoft-based technologies. Today we're seeing great demand for these services, and we plan to continue providing customers with newer tools, methodologies, reusable frameworks and components to meet their needs."

In the 2007-2008 fiscal year, the second in the existence of the MindTree Microsoft Technology practice, the business unit achieved revenues of $28 M, and a growth rate of more than 50 percent compared to 2006-2007. The Microsoft Technology Practice works with five global Fortune 500 companies including the world's largest business software developer, a large insurance company, a global consumer goods conglomerate, a major automotive manufacturing company, and a large industrial manufacturing company.

MindTree's Microsoft Technology Practice offers application development and maintenance; consulting; product implementation and solution accelerators. MindTree has invested in building deep expertise in Office Business Applications, MOSS 2007, BizTalk, Microsoft Dynamics, Silverlight and Unified Communications. "Today, our customers expect faster time-to-market cycles. With expertise in these areas, MindTree will be able to deliver on this expectation," states MindTree Microsoft Technology Practice Head Babuji Abraham.

The practice is structured as a core delivery team that handles implementation and maintenance, and a set of enabling structures by way of three groups: the Architecture and Design group - for assessment of and assistance in project architectures; the Center of Excellence - for building mass skills in technology areas; and the Research and Reuse group - for building frameworks and researching new technologies.

About MindTree

MindTree 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 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 as the most admired employer by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management. MindTree is publicly listed in India. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. 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.

COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning