MindTree acquires Linc Software

Our Corporate Bureau
11 May 2005

Hyderabad: MindTree Consulting, an international IT Services Company, has acquired Bangalore-based Linc Software Services to enhance its presence in the application development and maintenance domains for IBM mid-range Systems.

Founded in 1988, Linc Software is focused on the areas of application development and maintenance, ERP product support and web development.

"There is a large installed base of IBM iSeries (formerly AS / 400) systems and a strong demand for application development and maintenance on these platforms, the world over. As an important component of our growth strategy, the acquisition of Linc Software will enable MindTree to strengthen its capabilities in this space," said Krishnakumar Natarajan, MindTree consulting president and chief executive officer, IT Services.

"Linc will gain significantly from the integration and leverage its practices rapidly. The practice will have a wider canvass of customers to address — Cendant, Franklin Templeton, GE, Volvo, Emirates Airlines, Unilever and other long-standing customers of MindTree. The employees will benefit from the strong value-based culture of MindTree that makes it one of the ''best employers'' in India. Linc''s existing customers will benefit from the wider range of services offered by MindTree that is world-class in quality," said Chandra Kumar, chairman and chief executive officer, Linc Software.

"Our strategy is to grow significantly ahead of the market by offering our existing and potential customers a wider portfolio of services. The acquisition of Linc and that of ASAP Solutions last year, is an integral part of this strategy," said Ashok Soota, MindTree Consulting chairman and managing director.

MAPE Advisory Group and Avendus Advisors were investment bankers to this transaction.