Asia Pacific Japan BFSI Business Intelligence Changing Traditional Technologies Chief Financial Officer Chief Information Officer Commerce Platforms Develop Future Strategists Free Insights Greyhound Reports Media Mentions Leading With Insights Managed Services Manufacturing North America Retail & Commerce

Mindtree buys US firm Discoverture for $15 m

Mindtree has reported good third quarter profits and is confident that it will beat the upper band of Nasscom’s 13-15 per cent guidance for this financial year.

The Bengaluru-based mid-size company posted a net profit of 140.8 crore in the December-ended quarter, a 58 per cent growth on a year-on-year basis. On a sequential basis, the growth was 2.4 per cent. The company also announced the acquisition of US-based Discoverture Solutions for $15 million, which gives the company a stronger foothold in the insurance vertical. However, revenues from this acquisition will not reflect this financial year. Mindtree shares closed 2.3 per cent to 1,412.

“Amongst mid-size companies, Mindtree numbers are good and the $50 million client is positive and it needs to keep doing this more often,” said Sanchit Vir Gogia, Chief Analyst Greyhound Research.

To read the Full Article, click here: Business Line

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s