MphasiS

MphasiS
MphasiS, an HP Company
Type Public Company
Traded as BSE: 526299
NSE: MPHASIS
Industry Information Technology Services
Founded Incorporated June, 2000
Founder(s) Jaithirth Rao
Jeroen Tas
Headquarters Bangalore, India
Key people Friedrich Froeschl
(Chairman)[1]
Ganesh Ayyar,
(CEO)[2]
Revenue increase INR3,457.55 crore (US$701.19 million) (2009-10)[3]
Operating income increase INR1,007.84 crore (US$204.39 million) (2009-10)[3]
Net income increase INR836.87 crore (US$169.72 million) (2009-10)[3]
Employees 41,000
Parent Hewlett-Packard
Website MphasiS.com

MphasiS (BSE: 526299, NSE: MPHASIS), a unit of Hewlett-Packard Co., is an information technology services company based in Bangalore, India. MphasiS is certified with ISO 9001:2008, ISO/IEC 27001:2005 and is assessed at CMMI v 1.2 Level 5.[4]It is the sixth largest IT company in India[5] with more than 38,000 employees as of 2010. The company has 29 offices in 14 countries with delivery centers in India, Sri Lanka, China, North America and Europe.[6]

Contents

History

MphasiS (then, MphasiS BFL Limited) was formed in June 2000 after the merger of the US-based IT consulting company MphasiS Corporation (founded in 1998) and the Indian IT services company BFL Software Limited (founded in 1992).[7] MphasiS Corporation was founded in 1998 in Santa Monica, California by Jerry Rao[8] and Jeroen Tas.[9]

In June 2006 Electronic Data Systems (EDS) purchased a controlling stake in the company (52%) for $380 million and operated as an independent EDS unit.[10]

On May 13, 2008, Hewlett-Packard confirmed that it had reached a deal with Electronic Data Systems to acquire the company for $13.9 billion.[11] The deal was completed on August 26, 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 operates as an independent HP subsidiary with its own board and continues to be listed on Indian markets as "MphasiS Limited".[12] Currently HP owns close to 62% in MphasiS.

MphasiS marked $1 billion in revenues and registered a consolidated revenue of Rs 5,037 crore ($1,099.3 million) for the year ended October 31, 2010 becoming the sixth indian IT company to do that.[13]

MphasiS headquarters at Bagmane Tech Park, Bangalore

Services

MphasiS is engaged in providing information technology services to its customers around the world. MphasiS provides integrated solutions that include business process outsourcing, infrastructure technology, and application services. The application services offered by the company includes application development as well as applications maintenance and support services. The markets served by the company are financial services & insurance, healthcare, manufacturing, government, transportation, communications, and consumer & retail industries.[14]

Acquisitions

  • Navion Software, China (2002)[15]
  • Kshema Technologies, Bangalore, India (2004)[16]
  • Onida Infotech Services (Mirc Electronics SAP Division), Mumbai, India (2004)[17]
  • Princeton Consulting in UK (2005)[18]
  • Eldorado Computing in US (2005)[19]
  • AIG Systems Solutions, India (2009)[20]
  • Fortify Infrastructure Services in US (2010)[21]
  • Wyde Corporation in US (2011)[22] [23]

See also

References

  1. ^ MphasiS names Friedrich Froeschl as Chairman
  2. ^ "Ganesh Ayyar named MphasiS CEO & Board of Director member". Moneycontrol.com. http://www.moneycontrol.com/news/business/ganesh-ayyar-named-mphasis-ceoboarddirector-member_382653.html. Retrieved 2010-08-19. 
  3. ^ a b c "BSE Plus". Bseindia.com. http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=526299. Retrieved 2010-09-07. 
  4. ^ Mphasis - About Us
  5. ^ "NASSCOM releases its Annual rankings for the IT-BPO industry for FY09-10". Nasscom.in. 2010-08-13. http://www.nasscom.in/Nasscom/templates/NormalPage.aspx?id=59704. Retrieved 2010-08-19. 
  6. ^ MphasiS Offices
  7. ^ "Company History of MphasiS". Moneycontrol.com. http://www.moneycontrol.com/company-facts/mphasis/history/MB02. Retrieved 2010-08-19. 
  8. ^ "Jaithirth (Jerry) Rao: 2006 Distinguished Entrepreneurial Alumni Award Winner". Chicagobooth.edu. http://www.chicagobooth.edu/news/daa2006/01-rao.aspx. Retrieved 2010-08-19. 
  9. ^ Jeroen Tas: Executive Profile and Biography - Business Week
  10. ^ EDS acquires majority stake in MphasiS
  11. ^ HP to buy EDS for 13.9 bln dlrs, to expand services
  12. ^ "MphasiS become HP Company" (PDF). http://mphasis.com/pdfs/BrandingIdentity.pdf. Retrieved 2010-08-19. 
  13. ^ "MphasiS crosses $1 billion revenue mark, PAT up 20%". The Times Of India. http://articles.economictimes.indiatimes.com/2010-11-23/news/27592381_1_mphasis-revenue-mark-net-profit. 
  14. ^ MphasiS Limited (526299) - Financial and Strategic Analysis Review
  15. ^ "Mphasis to acquire Navion Software of China". Archives.infotech.indiatimes.com. 2002-10-25. http://archives.infotech.indiatimes.com/news/software/Mphasis-to-acquire-Navion-Software-of-China/articleshow/26245467.cms. Retrieved 2010-08-19. 
  16. ^ "MphasiS to acquire Kshema Technologies". Chennai, India: Hindu.com. 2004-04-03. http://www.hindu.com/2004/04/03/stories/2004040305831600.htm. Retrieved 2010-08-19. 
  17. ^ MphasiS to buy out SAP division of MIRC Electronics
  18. ^ MphasiS acquires Princeton Consulting in Rs 60 cr deal
  19. ^ "MphasiS Buys Eldorado Computing". New York Times. 2005-03-15. http://query.nytimes.com/gst/fullpage.html?res=9C07E7D9123CF936A25750C0A9639C8B63. Retrieved 2010-08-19. 
  20. ^ "MphasiS acquires AIG's IT arm in India". Business-standard.com. 2009-08-12. http://www.business-standard.com/india/news/mphasis-acquires-aig%5Cs-it-arm-in-india/70553/on. Retrieved 2010-08-19. 
  21. ^ "HP's MphasiS Buys Fortify for Remote Services". Pcworld.com. 2010-04-08. http://www.pcworld.com/businesscenter/article/193775/hps_mphasis_buys_fortify_for_remote_services.html. Retrieved 2010-08-19. 
  22. ^ "MphasiS to acquire Wyde". MPhasis. 2011-08-01. http://www.mphasis.com/pdfs/MphasiS-to-acquire-Wyde.pdf. Retrieved 2011-08-01. 
  23. ^ "Mphasis paid 2-4.5 times sales for Wyde in cash: CEO". Moneycontrol.com. 2011-08-01. http://www.moneycontrol.com/news/business/mphasis-paid-2-45-times-sales-for-wydecash-ceo_571222.html. Retrieved 2011-08-01. 

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