BENGALURU: Global technology services and digital transformation company Mindtree is looking for acquisitions that will complement or augment its capabilities in strategic focus areas and also provide access to new markets.
In May this year, Mindtree strengthened its IoT, AI and Industry 4.0 capabilities with the acquisition of NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore. “This acquisition aligns with our vision to be the go-to digital transformation partner to our clients.
We are excited about the opportunities that we have been able to unlock with Mindtree NxT’s capabilities, which helped us win transformation deals last quarter at leading multinational manufacturers of consumer goods, industrial products, and building materials in the US, Europe and Asia-Pacific, as well as an automotive major,” Venu Lambu, Executive Director and President, Global Markets, Mindtree, told The New Indian Express.
He added that focused M&As are an important part of the company’s growth strategy. Mindtree was recently named a major contender in the Everest Group Internet of Things (IoT) Supply Chain Solutions PEAK Matrix Assessment 2022.
“This recognition has validated our ‘platform of platforms’ strategy built on the Mindtree NxT Insights Platform that helps customers deliver measurable outcomes and unlock new revenue streams with industry-aligned functional products,” Lambu said.
The technology company has developed solutions under this platform for a wide range of innovative use cases and it continues to see increasing traction for its IoT and Industry 4.0. Mindtree is also developing solutions around Mindtree NxT’s railroad offering.
The mid-tier tech firm continues to strengthen its partnerships with industry leaders such as Microsoft, Google, ServiceNow, AWS, and Databricks. It has also launched a Microsoft go-to-market business unit focused on accelerating cloud business, and earned Microsoft Azure Advanced Specializations in analytics as well as AI and ML.
Digital transformation
Talking about digital transformation, Lambu said that there is growing appetite and urgency among organisations across industry sectors to tap into digital and cloud technologies. “This trend is fuelling continuous innovation in business models, processes, operations, products and services, with a focus on not just optimising costs, but maximising revenue, operational excellence, and business resilience,” he said.