MindTree to acquire the business of 7Strata
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MindTree to acquire the business of 7Strata
Bangalore: MindTree, a global IT solutions company, entered into a definitive agreement to acquire the business (including people, customer contracts and Intellectual Properties) of 7Strata, a Remote Infrastructure Management (RIM) services provider. The acquisition will be effective from 1 May 2010 and is subject to certain closing conditions which are expected to be completed shortly. 7Strata is a Chennai-based, privately held company that offers end-to-end, fully integrated, remote IT monitoring and management services. 7Strata began its operations in October 2007. The 7Strata team has developed a proprietary infrastructure management software platform to offer RIM services. The ITIL-compliant platform helps customers save money and improve service levels by having an automated and integrated tool to manage IT operation processes. "MindTree's Infrastructure Management and Technical Support (IMTS) business has shown Industry leading growth over the last 4 years. The acquisition of 7Strata will provide MindTree the advantage of offering platform-based RIM services to our customers globally. The acquisition will also enable MindTree to offer remote desktop management services for our India-based and global customers," said Parthasarathy NS, MindTree President and CEO, Independent Testing & IMTS. As a part of the acquisition, the core management and delivery team of 7Strata will become a part of MindTree's IMTS business. "In a short span of less than three years, 7Strata has not only developed a unique platform to offer RIM services to our customers but has also built a strong presence and customer base in India. We are excited about becoming a part of the MindTree team. The acquisition will not only enable the 7Strata team to access the global customer base of MindTree but also help leverage its well-established brand and delivery excellence processes," said George Zacharias, Co-Founder and Chief Executive Officer, 7Strata.

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