International IT company Mindtree has hired Bain & Company to develop its new global strategy. In the coming 3 months Bain will draft a new corporate and go-to-market strategy. With the help of Bain’s strategic advice the IT multinational has the ambition of breaking through the barrier of $1 billion in revenues.
Mindtree was founded in 1999 in India. Over the past fourteen years the IT firm grew rapidly. In 2006 it reached the milestone of $100 million in revenues and with a current revenue of $435 million it belongs to one of the top 20 Indian IT companies. Mindtree has offices in 15 countries across the United States, Europe and Asia.
In 2010 the management and shareholders of Mindtree agreed an ambitious growthplan. By 2014, the revenues of the IT-company should have reached $1 billion. As a result of the economic downturn and poor growth the firm is poised to miss the target by a wide margin. By hiring Bain, the management hopes that new strategic options and growth opportunities can be found to boost revenue growth.
It is not the first time that Mindtree has hired approached Bain for external support. According to an Indian newspaper Mindtree has over the past two years asked Bain to support with two other engagements: defining a sales & marketing strategy for its upcoming technology areas such as social media and analytics and support on a major innovation transformation.