» Business » MindTree acquires ASAP in all-cash deal

MindTree acquires ASAP in all-cash deal

By BS Bureau in Bangalore
October 07, 2004 11:48 IST
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MindTree Consulting, a Bangalore-based IT services company, has announced that it has acquired ASAP Solutions to expand and improve its capabilities within the areas of enterprise resource planning, client-server, Internet and integration solutions.

Co-headquartered in India and the US, ASAP is a six-year-old company and is currently 120-strong. It is understood that this is an all cash deal though specific figures are not available as both the acquirer and target companies are privately held.

According to Ashok Soota, chairman and managing director of MindTree, "After over five years of successful organic growth, we felt it was time to add ASAP to the MindTree family.

"It will accelerate our capability in the ERP segment, which is one of our fastest growing practice areas. With ASAP's technology expertise and existing client base, we are ready to act as one, integrated company in delivering high customer satisfaction."

ASAP was founded by Atulya Nath, Sameer Narula, Sanjeev Joon and Bharat Malesha, who have extensive IT industry experience in India and in the US.

 ASAP has two major practices -- a SAP practice, which focuses on SAP implementation, maintenance, and application integration; and a data management practice, which works with large enterprises on architecting and maintaining mission-critical systems.

ASAP delivers productised integration services to SAP enterprises using its integration framework products.

"Our customers are telling us to increase our ERP footprint. The coming together of ASAP and MindTree will help us address our Indian and global customer's needs for SAP implementation and maintenance.

This deal would also give us valuable relationships and help us grow our presence in North India." Krishnakumar Natarajan, IT services CEO, MindTree, said.
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BS Bureau in Bangalore