An AMR Research report states MindTree's pending acquisition of Aztesoft could make it a stronger alternative to offshore service providers. The report says that with this acquisition MindTree can better compete against biggies like TCS, Infosys, Wipro, etc.
MindTree had announced its intention to buy an equity stake in OPD player - Aztecsoft, in May last year. The acquisition is expected to be completed by April 2009.
According to the January 15, 2009 report, MindTree's Aztecsoft Acquisition: A Closer Look at a Global Services Contender in the Making, author Dana Stiffler said, "The (Aztecsoft) acquisition diversifies MindTree's existing service lines quite nicely. By adding substantial capabilities in outsourced product development and independent testing, MindTree has more potential upside in the future with IT and product engineering prospects."
"MindTree decided to acquire Aztecsoft because it strongly complemented our existing expertise in both IT and R&D Services," Krishnakumar Natrajan, CEO MindTree. "The recent AMR report validates our strategy as this leading research firm recognize; how synergies between the companies strengthen our position as a midsize alternative to the larger offshore service providers."
MindTree had also been linked in a move for tainted Satyam, though the company has since denied it.
Thursday, March 19, 2009
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