Type Public Founded May 1982 Number of employees 1,500 | Key people John Owen (Group CEO) Headquarters Mumbai | |
Traded as BSE: 523704; NSE: MASTEK Industry SoftwareInformation technology Number of locations India (6 centres) United Kingdom (3 centers) United States (2 centers) Services Consulting Application Development Digital Commerce Service Management Legacy Transformation Quality Assurance & Testing Stock price MASTEK (NSE) ₹ 181.50 +1.60 (+0.89%)14 Mar, 3:30 PM IST - Disclaimer Revenue 82 million USD (in FY 2015-16) Founders Ashank Desai, Sudhakar Ram, Radhakrishnan Sundar, Ketan Mehta Subsidiaries Keystone Solutions Pvt Ltd Profiles | ||
Mastek Limited (BSE: 523704) is a global IT technology business enabling enterprises to deliver complex digital transformation solutions. Amongst the pioneering IT technology providers in India, the Mastek Group employs 1500+ professionals. It has a global headquarter in Mumbai, India with further offices spread across the United Kingdom and the United States, and an additional six global delivery centres in India. Mastek’s core experience involves designing, building and managing bespoke enterprise application solutions for over 100 clients across the public and private sectors.
Contents
History
Mastek (Management and Software Technologies) was founded in May 1982 by Ashank Desai, Ketan Mehta and R. Sundar. They were later joined by Sudhakar Ram. Sudhakar held the role of Group CEO of the company until late 2016 when John Owen joined the business and took over as the Group CEO. Sudhakar now operates as the Vice Chairman and Managing Director of the Mastek Group.
The company was among the first ones in India to create software products. Mastek USA (now known as Majesco) was established in 1992. Mastek became the first company to develop Enterprise Resource Planning (ERP) in India and also the first Indian IT company that got listed at premium price. Mastek UK was established in 1992 and two years later, in 1994, Mastek set up its subsidiary in Malaysia. In 2007, it ranked 11th among the leaders of Global Outsourcing 100 Companies by the International Association of Outsourcing Professionals published in Fortune magazine (April 2007) – Recognition for ‘Methodologies and Innovation’ adopted by Mastek. In 2008, Mastek Limited bought Systems Task Group (STG), an international provider of enterprise solutions for the property and casualty (P&C) insurance industry, in an all-cash consideration of $29 million (Rs. 116 crore). In 2010, Mastek acquired Kognitio Data Migration Offering and also the assets of SEG Software, LLC.
In September 2014, Mastek decided to split into two companies. Majesco that will handle the insurance business and Mastek that will take care of solutions business.[1]
In May 2015, Mastek acquired IndigoBlue Consulting, specialists in agile and digital transformation consulting. This has strengthened Mastek’s consulting capability, enabling end-to-end digital strategy design and implementation.[2]
In 2016, Mastek established Digility Inc. to extend its core technology solutions across US private sector customers.
In Jan 2017, Digility acquired TAISTech, a digital commerce services leader providing strategic consulting, large scale commerce implementations and support for the Oracle Commerce and Oracle Commerce Cloud applications. [3]
External Links: Google Finance [4] Yahoo Finance [5] G-Cloud [6] List of Indian IT companies [7]
Corporate Social Responsibility
The Mastek Foundation [8] was established in 2005 to provide financial and practical support to disadvantaged communities in India. The core purpose of the Foundation is to: • Inspire Mastek employees to take an active role in supporting struggling communities in India • Help NGOs to scale and build their technology capabilities. The causes Mastek Supports cover: • Education • Health • Women empowerment • Sustainability