Mindtree Consulting

Introduction
Mindtree Limited is an Indian MNC headquartered in Bangalore, India and New
Jersey. It provides services in the domains of information technology, consulting
and outsourcing. The company was formed on 18 August, 1999 by ten IT
professionals from Cambridge Technology Partners, Lucent Technologies and
Wipro, three of which invested through an entity incorporated in Mauritius.
Mindtree delivers digital transformation and technology services from ideation to
execution, thereby enabling Global 2000 clients to outperform the competition.
Born digital, Mindtree takes an agile, collaborative approach to creating
customized solutions across the digital value chain. At the same time, their deep
expertise in infrastructure and applications management helps optimize IT into a
strategic asset.
The company currently deals in agile methodology, big data, e-commerce
applications, mobile applications, cloud based services, digital transformation,
data analytics, EAI and ERP, with more than 290 clients and 28 offices in 14
countries (as of 2012). The company has established a large operating base in
India to serve its major markets in US and Europe.

Origin and Evolution

The founder of Mindtree, Subroto Bagchi worked for a decade with Wipro
technologies. In 1998, he moved to Lucent Technologies and got an opportunity
to work on a strategic study of future of Indian software industry. During the
course of this study, he realised the trend towards knowledge-enabled
software in the emerging future and an opportunity existed to create a next
generation software solutions company. He collaborated with Krishna Kumar in
June 1998, the then Chief executive of Wipros Electronic Commerce division
having 18 years of experience with Wipro, with whom he had worked on various
issues earlier during his stint at Wipro and had shared a special bonding.
Having conceived the idea, both Subroto and Krishna had a thousand questions
in front of them - from how much funding to look for - to how to locate the ideal
venture capitalist partner, and whether it makes more sense to invest money in
land and building or to rent space. As guided by N. Balasubramanian (faculty at
IIM), they were further advised to carve out a business plan and a financial
strategy.
Later on his trip to East Coast, Subroto met Anjan Lahiri who was working in
consulting domain at Cambridge Technology Partners after finishing his MBA from
Florida. After hearing out Subroto, he was excited to be a part of the new
venture. They also absorbed Namakal Parthasarthy, who was the General
Manager at Wipros Technology Solutions, as their Technical Leader. Meanwhile,
they were also looking out for venture capitalists who could fund their dream.
During their intense deliberations, the team decided that they would focus on
two areas of business, namely Net-enabled Solutions and Application
Maintenance Services. Net-enabled solutions fundamentally meant three things:

Web based applications, ERP Wraparounds and what are called "Front Office
Applications".
The final thought for the founding team was how to differentiate itself from
companies like Cambridge Technology Partners, Sapient, etc. as well as challenge
the monopoly of IBM. They zeroed in on six things. These are Domain, Tools,
Methodology, Quality, Innovation and Branding.
The company received seed funding by the venture capital firms Walden
International and Sivan Securities, and later in 2001 from the Capital Group and
Franklin Templeton.

Mission, Vision and Core Values

Mission
During the ideation phase, the founders had this mission in mind We will
deliver business enabling software solutions, by creating partnership with our
customers, in a joyous environment for our people.
The mission in 16 years of Mindtree journey has remained the same, now it has
been reworded as We engineer meaningful technology solutions to help
businesses and societies flourish.
For Mindtree, Welcome to possible is not merely a slogan - it reflects the
companys approach to its every engagement.

Vision
The founders decided on the following to be accomplished by 2005:
Achieve $100 Million in revenues
Establish development centers in four international locations
Create ownership through stock options at all levels in the organization
Commit a significant portion of our PAT to support enhancement of primary
education in the societies we work in

Six Core Values

Reduce Total Cost of Ownership for our customers

Partnership is the cornerstone of our existence
Respect individual contribution but place higher importance on the value of
team work
Create an Organization based on learning, innovation and quality
Enable employees attain their full potential and reward with wealth creation
Conduct ourselves with the highest sense of integrity

The Logo
On 26th July, 13 months after the birth of the idea, the founding team asked the
disabled children at the Spastic Society of Karnataka to design their logo. From
the all the possible options, the design by K.S. Chetan was finalised as the visual
identity for MindTree.
This logo was retained for 14 years which depicted the values of the company
and the picture that the company had humble, down to earth and introspective
people. As businesses and critical information systems transform, we realise
that we need a company that is expertise led, which meant that we needed to
redefine our existing brand." said chairman, Subroto Bagchi. Designed by US

based Siegel + Gale, the new logo and brand identity were announced in 2012
as part of its journey towards 2020. The new logo conveys that the firm sees a
possibility when others see no way.

In December 2006, it became a public company and was listed on BSE and NSE.
In 2010, one of the key founders, Ashok Soota exited from the company. The
company also exited its investments in smartphone business that it had acquired
from Kyrocera after incurring huge losses.
In January 2016, Mindtree underwent significant management changes.
Rostow Ravanan was appointed as the CEO and Managing Director. He is among
the ten founding members and earlier served as CFO. Subroto Bagchi stepped
down as the Executive Chairman but continues to be on the Board of Directors as
a non-executive director. His position was taken over by Krishna Kumar
Natarajan.
Mindtree acquired Magnet 360 to strengthen its offerings in digitizing the value
chain and building sense-and-response systems around the same time.