The Hindu : Business : MindTree acquires Linc Software

Online edition of India's National Newspaper
Friday, May 06, 2005

Business

Business

MindTree acquires Linc Software

Special Correspondent

To ramp up Bangalore facility

BANGALORE: IT services firm MindTree Consulting has acquired the Bangalore-based Linc Software Services Private Limited for an undisclosed amount.

The acquisiton of Linc will help enhance MindTree's presence in application development and maintenance domains for IBM mid-range systems.

"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," Ashok Soota, Chairman and Managing Director, MindTree Consulting, said at a press conference here. The acquisition would be funded entirely through internal accruals, he said.

MindTree will leverage on the acquisition of Linc to expand into newer markets in Switzerland, Germany as well as other Southeast Asian nations where it does not have a presence.Linc has offices in the U.S., the U.K., Singapore, Switzerland and Australia with a headcount of over 220 employees.

MindTree is also ramping up its India operations by constructing a second building at its Bangalore facility with plans to hire 1,300-1,400 people during the year. The Bangalore facility will eventually cater to a workforce of 5,000 people.

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