Last week, while media attention was deservedly focused on Capgemini’s $4 billion buyout of Indian IT services company, IGATE, a relatively smaller but strategic development took place approximately a month back.
Due to strategic reasons IGATE decided to exit the domestic market and focus on their global business. IGATE sold its India IMS business to MindSquare, a 1neoteric group company. MindSquare Technologies, a group company of 1neoteric Technology Solutions acquired the domestic infrastructure management services (IMS) operations of IGATE. 1neoteric is the technology solutions and services arm of India’s leading value-added technology distribution company, neoteric Informatique.
“The strategic agreement with IGATE has helped MindSquare double its customer base, and nearly quadrupled its employee strength thus providing us the ability and capacity to grow in India and in the international markets. In addition, the acquisition of deeper skills from IGATE provides MindSquare with the capabilities to offer strategic outsourcing services,” said Sanjay Prasad, Chief Operating Officer, 1neoteric Technology Solutions.
Under the agreement, MindSquare acquired the entire Indian customer base of IGATE and has also taken on board 400 employees of IGATE, who were engaged in providing remote and onsite IMS services to IGATE’s Indian customers. The MOU was signed in January 2015 and the entire deal was completed by March 31, 2015.
Through this deal, MindSquare also acquired all the Indian customers of IGATE which included companies like Reliance Industries, Reliance Infrastructure, Reliance Communication, Castrol India, Schlumberger, Franklin Templeton. Anand Bazar Patrika, BITS Pilani and British Council.
The deal is significant as it gives MindSquare access to large customers. A case in point is Reliance Communication for which MindSquare manages the entire IT infrastructure of the company across 800 odd locations providing remote and onsite IT infrastructure management services to approximated 8000+ users and manages more than 10,000 assets.
For Reliance Infrastructure’s APDRP project, MindSquare manages the Data center and the DR Site and also manage 130 CSEB sites spread across 20 towns with approximately 1500 users and 2139 assets and multiple applications. For Castrol BP, the firm manages the entire IT infrastructure of the company across odd locations providing remote and onsite IT infrastructure management services to more than 1000 users and over 1200 assets. For Reliance Infrastructure, MindSquare also manages 176 locations on a PAN India basis, providing remote and onsite IT infrastructure management services to approximately 450 users. The firm manages manages 450+ assets, 150 servers and 255 network devices.
In the future, MindSquare is planning expansion in international markets, where 1neoteric has its global offices. MindSquare plans to expand its Network Operations Center in the near future to support its global expansion plans.
Incepted in 2012, by industry veterans Balakumar Vijayendran, Sanjay Nayak and Vaishali Bansal, MindSquare provides a portfolio of managed infrastructure services. The company received a strategic investment from 1neoteric in early 2015, thus becoming a 1neoteric group company.