Mindtree to expand to Middle East, Europe

BANGALORE: Bangalore based Mindtree, is setting up offices in the Middle East

and Europe as a part of its expansion plans. Initially, these offices would

focus on developing business and setting up a customer base in these regions.

The company's business approach is on technology initiatives as well as IT

consulting. The company's approach towards these countries is more business

oriented. "Depending on the response in each of the regions, we are open to

take up development projects in these regions in the future," said Mindtree

Consulting Pvt. Ltd. vice chairman and president, Europe & APAC, N

KrishnaKumar.

As a part of its plan, the company has already set up office in Japan and for

the APAC region in Singapore. Currently Mindtree's main business revenues are

from US which contributes about 85 per cent of the revenue with the rest 15 per

cent coming from India.

"Now with our direct presence in countries outside US, we expect more

revenues to flow in from these markets. However, US would continue to be the

largest contributor," said Mindtree Consulting vice president and head

India Business Jayesh Chakravarthi. He added that it is likely that in the near

future, the US contribution would account for 60 per cent followed by 30 per

cent from these regions and 10 percent from India.

The company is confident that the second round of funding which came in

during August 2001, would enable smooth functioning of the company over the next

three years. Mindtree has added about 20 customers in the last nine months and

one of the top ten orders is from Volvo, an automobile company.