MphasiS
"Unleash the Next"
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|
| Public | |
| Traded as | : : MPHASIS |
| Industry | IT services, IT consulting |
| Founded | June 2000 |
| Founders |
Jerry Rao Jeroen Tas |
| Headquarters | Bangalore, India |
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Key people
|
Nitin Rakesh (CEO) |
| Services | IT, business consulting and outsourcing services |
| Revenue | ₹6,074 crore (US$900 million) (March 2016) |
| Profit | ₹669 crore (US$99 million) (March 2016) |
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Number of employees
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22,291 (September 2016) |
| Parent | The Blackstone Group |
| Website | www |
Mphasis is an IT services company based in Bangalore, India. The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. Mphasis is ranked #7 in India IT companies and overall #165 by Fortune India 500 in 2011. In February 2014, Mphasis changed its logo and the brand name as Mphasis Unleash the Next, seeking to boost business other than from parent Hewlett-Packard, its largest client. In April 2016, Hewlett Packard Enterprise sold majority of its stake in Mphasis to Blackstone Group LP for around a billion dollars.
Mphasis was formed in June 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998 in Santa Monica by Jerry Rao and Jeroen Tas.) and the Indian IT services company BFL Software Limited (founded in 1992).
In June 2006 Electronic Data Systems (EDS) purchased a controlling stake in the company (42%) for $80 million and operated the company as an independent EDS unit. On 13 May 2008, Hewlett-Packard confirmed that it had reached a deal with Electronic Data Systems to acquire the company for $13.9 billion. The deal was completed on 26 August 2008.
In September 2009 Mphasis changed its brand identity by dropping EDS association to become "Mphasis, an HP Company" after HP retired EDS Brand to become "HP Enterprise Services". Mphasis operated as an independent HP subsidiary with its own board and continued to be listed on Indian markets as "Mphasis Limited". HP owned close to 62% in Mphasis and Mphasis got around 50% of its revenues from HP.
Mphasis marked $1 billion in revenues and registered a consolidated revenue of Rs50.37 billion ($1,099.3 million) for the year ended 31 October 2010 becoming the sixth Indian IT company to do that. On 30 June 2015, Mphasis announced the signing of a definitive agreement to transfer a significant portion of its domestic business, to Hinduja Global Solutions (HGS). HGS is a global BPM leader in optimizing customer experience for clients. On 10 July 2015, Mphasis announced it will move 2,000 employees to Karvy Data Management Services Ltd (KDMSL) as part of a deal signed to partially sell its domestic outsourcing business to Karvy.
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Wikipedia