MindTree acquires Linc Software

BANGALORE: MindTree Consulting, an international IT services firm, announced here on Thursday, that it has acquired Bangalore-based Linc Software Services to enhance its presence in the application development and maintenance domains for IBM mid-range systems.

By way of this acquisition, Mindtree will take into its fold the 220 employees who were working for Linc along with their offices in the USA and UK. According to a Mindtree spokesperson, the acquisition opens the door for the company into new geographies including Switzerland, South East Asia and the Middle East.

The company refused to give information on the financial details of the acquisition but estimates have placed the size of the deal anywhere between $10 and $12 million. A Mindtree spokesperson said that the part cash, part stock deal meant that the private investors who had funded Linc were now out of the picture.

Founded in 1988, Linc Software focuses on application development and maintenance, ERP product support and web development. The company had three offices in Bangalore, including two development centers. The company's clients included Unilever, Novartis, Viacom and the Emerson Group.