Founded in 1999-01-01
Mindtree Ltd is an Indian multinational information technology and outsourcing company, headquartered in Bangalore, India. It is a part of the Larsen & Toubro Group. Founded in 1999, the company employs approximately 23,814 employees with an annual revenue of ₹7839.9 crore (US$1.1 billion). The company deals in e-commerce, mobile applications, cloud computing, digital transformation, data analytics, Testing, enterprise application integration and enterprise resource planning, with more than 307 active clients and 43 offices in over 18 countries, as of 31 March 2019. In August 1999, Mindtree Consulting Private Limited was founded by ten IT professionals, three of which invested through an entity incorporated in Mauritius. It was funded by the venture capital firms Walden International and Sivan Securities, and received further funding in 2001 from the Capital Group and Franklin Templeton. It became a public company on 12 December 2006 and was listed on the Bombay Stock Exchange and National Stock Exchange. Its IPO debuted on 9 February 2007 and closed on 14 February 2007. The IPO was oversubscribed by more than a hundred times. Mindtree announced a new brand identity and logo, with the slogan "Welcome to possible" on 28 September 2012. In 2012, Mindtree setup its first U.S. delivery center (USDC) in Gainesville, Florida, under the leadership of Scott Staples, co-founder and Global Head of Sales. As of 2017, the company has 43 offices in over 17 countries. Larsen & Toubro, an infrastructure major and one of the largest conglomerates in India, took over control of Mindtree on June 2019 and currently has a 61.08% stake in the company. In March 2020, Mindtree announced the appointment of Dayapatra Nevatia as COO with immediate effect. He joins the company from Accenture where he was the managing director as well as the director for delivery for advanced technology centers in India.