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    MINDTREE   INE018I01017

MINDTREE LIMITED

(MINDTREE)
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Mindtree : Western Asset Selects Mindtree as a Strategic Partner to Drive Enterprise Innovation and Transform IT Services

10/20/2021 | 06:44am EST

BANGALORE, India and WARREN, N.J., Oct. 20, 2021 /CNW/ -- Mindtree, a leading digital transformation and technology services company, announced today that it has been selected as a strategic partner by Western Asset, one of the world's leading active fixed-income investment managers, to help drive innovation and differentiated experiences for the company's global investors. Mindtree will initially partner with the Western Asset team on their IT infrastructure and application portfolio, while also enabling several strategic business initiatives.

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As part of this multi-year engagement, Mindtree will enable Western Asset to create a more flexible operating model that can quickly adapt to changing business needs and accelerate time-to-value. By leveraging its deep domain and digital expertise, Mindtree will help Western Asset accelerate the transition to a platform-based operating model, automate enterprise systems, and maintain industry-leading best practices for IT services. This will enable Western Asset to scale overall productivity, agility and delivery.

"Western Asset is excited to partner with a sophisticated managed service provider that has the proven ability to transform IT services using best-in-class tools and platforms to drive efficiency and help us meet our evolving business needs," said Ric Okun, Global Head of Information Technology at Western Asset. "We are very pleased to have selected Mindtree, largely due to the company's proven experience in driving IT transformation and their talented team."

"Mindtree is the right choice to drive our IT transformation program. Mindtree's focus on innovation, digital expertise and team-based culture is a very good match for Western Asset," said Penny Morgan, Head of Business Transformation at Western Asset.

"We are pleased to be a part of Western Asset's technology transformation journey to deliver higher levels of efficiency and effectiveness," said Venu Lambu, Executive Director and President, Global Markets, at Mindtree. "As part of this strategic partnership, we look forward to enabling a fundamental shift in Western Asset's IT operating model. Complementing Western Asset's distinctive client-centric approach with scalable and resilient technology will further boost the firm's ability to continue to meet and exceed client expectations."

About Western Asset Management

Western Asset is one of the world's leading fixed-income investment managers. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the Firm has nine offices around the globe and deep experience across the range of fixed-income sectors. Founded in 1971, Western Asset has been recognized for an approach emphasizing team management and intensive proprietary research, supported by robust risk management. To learn more about Western Asset, please visit www.westernasset.com.

About Mindtree

Mindtree [NSE: MINDTREE] is a global technology consulting and services company, helping enterprises marry scale with agility to achieve competitive advantage. "Born digital," in 1999 and now a Larsen & Toubro Group Company, Mindtree applies its deep domain knowledge to more than 260 enterprise client engagements to break down silos, make sense of digital complexity and bring new initiatives to market faster. We enable IT to move at the speed of business, leveraging emerging technologies and the efficiencies of Continuous Delivery to spur business innovation. Operating in 24 countries across the world, we're consistently regarded as one of the best places to work, embodied every day by our winning culture made up of over 29,700 entrepreneurial, collaborative and dedicated "Mindtree Minds".

To learn more about us, visit www.mindtree.com or follow us @Mindtree_Ltd.

For more information, contact: media@mindtree.com

Cision
View original content:https://www.prnewswire.com/news-releases/western-asset-selects-mindtree-as-a-strategic-partner-to-drive-enterprise-innovation-and-transform-it-services-301404433.html

SOURCE Mindtree

© Canada Newswire, source Canada Newswire English

Stocks mentioned in the article
ChangeLast1st jan.
LARSEN & TOUBRO LIMITED 0.72% 1801.85 End-of-day quote.39.94%
MINDTREE LIMITED -0.87% 4476.6 Delayed Quote.169.62%
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Financials
Sales 2022 103 B 1 371 M 1 371 M
Net income 2022 15 413 M 205 M 205 M
Net cash 2022 16 863 M 224 M 224 M
P/E ratio 2022 47,8x
Yield 2022 0,71%
Capitalization 738 B 9 804 M 9 806 M
EV / Sales 2022 6,99x
EV / Sales 2023 5,84x
Nbr of Employees 21 484
Free-Float 32,4%
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Last Close Price 4 476,60 INR
Average target price 3 993,93 INR
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Debashis Chatterjee Chief Executive Officer, MD & Director
Vinit Teredesai Chief Financial Officer
Anil Kumar Manibhai Naik Non-Executive Chairman
Aan Chauhan Chief Technology Officer
Dayapatra Nevatia Chief Operating Officer & Executive Director
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