Mphasis
| Company type | Public |
|---|---|
| Industry | Information technology, consulting |
| Predecessor | Mphasis Corporation, BFL Software Limited |
| Founded | June 2000 |
| Founder | Jerry Rao, Jeroen Tas |
| Headquarters | Bengaluru , India |
Area served | Global |
Key people | Nitin Rakesh (CEO and director) |
| Products | Infrastructure technology, application outsourcing solutions, business process outsourcing, application services |
| Owner | Blackstone Group LP (majority shareholder since 2016) |
| Website | www |
Mphasis Limited is a global Indian IT and consulting enterprise based in Bengaluru. The firm specializes in infrastructure technology and application outsourcing solutions, encompassing architectural consulting, application design, integration, and ongoing management. Its key sectors of operation include financial services, telecommunications, logistics, and technology industries. In 2019, Mphasis was positioned at #7 among Indian IT firms and ranked #189 overall on the Fortune India 500 list. In April 2016, Hewlett Packard Enterprise divested its majority holding in Mphasis to the Blackstone Group LP for around US$1 billion.
Establishment and Initial Phase
Mphasis was established in June 2000 through the consolidation of the US-based IT consultancy Mphasis Corporation (founded in 1998 in Santa Monica by Jerry Rao and Jeroen Tas) and the Indian IT service provider BFL Software Limited (originated in 1992).
In June 2006, Electronic Data Systems (EDS) acquired a controlling interest of 42% in Mphasis for $380 million, managing it as an autonomous division.
Period as a Hewlett-Packard Entity
On 13 May 2008, Hewlett-Packard declared its intention to acquire EDS for $13.9 billion, finalizing the transaction on 26 August 2008. By September 2009, Mphasis was rebranded to "Mphasis, an HP Company" following HP’s retirement of the EDS brand to create HP Enterprise Services. Operating as a distinct HP subsidiary with its own governance board, Mphasis remained publicly traded in India. HP retained approximately 62% ownership, with nearly half of Mphasis’ revenue generated from HP-related business.
For the fiscal year ending 31 October 2010, Mphasis achieved $1 billion in revenue, reporting consolidated earnings of ₹50.37 billion ($1,099.3 million), marking it as the sixth Indian IT company to surpass this benchmark.
In February 2014, Mphasis unveiled a refreshed logo and brand identity under the tagline "Mphasis Unleash the Next," signaling its strategy to broaden its clientele beyond Hewlett-Packard.
On 30 June 2015, Mphasis entered into an agreement to transfer a major segment of its domestic operations to Hinduja Global Solutions (HGS). Shortly thereafter, on 10 July 2015, it announced relocating 2,000 employees to Karvy Data Management Services Ltd as part of a partial divestment of its domestic outsourcing activities.
Ownership under Blackstone Group
In 2016, after Hewlett-Packard opted to divest its controlling interest in Mphasis, contenders including Tech Mahindra, Apollo Global Management, and Blackstone Group vied for acquisition. Although Tech Mahindra initially led the bidding process, it withdrew to avoid escalating competition. Subsequently that year, Blackstone secured HP’s 60.17% stake in Mphasis for ₹5,466 crore ($815 million); however, its public offer to acquire an additional 26% from shareholders did not succeed.
On 29 January 2017, Nitin Rakesh was appointed as CEO and director of Mphasis. Later, on 7 August 2018, the board announced a shareholder buyback program offering approximately a 17.4% premium.
In April 2021, Blackstone committed up to $2.8 billion towards acquiring a controlling interest in Mphasis with co-investments from Abu Dhabi Investment Authority’s UC Investments along with other long-term investors.
Offices
Mphasis maintains more than 60 sales and delivery hubs spanning India, the United States, the United Kingdom, China, Australia, Canada, Japan, Europe (including Germany, France, and the Netherlands), Southeast Asia, the Middle East, and Latin America. Within India, principal offices are situated in Bangalore, Chennai, Pune, Hyderabad, Mumbai, Noida, and Mangalore.
Acquisitions
- Navion Software, China (2002)
- Kshema Technologies, Bangalore, India (2004)
- Onida Infotech Services (Mirc Electronics SAP Division), Mumbai, India (2004)
- Princeton Consulting, UK (2005)
- Eldorado Computing, US (2005)
- AIG Systems Solutions, India (2009)
- Fortify Infrastructure Services, US (2010)
- Wyde Corporation, US (2011)
- Digital Risk LLC, US (2012)
- Stelligent, US (2018)
- Datalytyx (2020)
- Blink UX (2021)
Mergers
- BFL Software merged with MphasiS in March 2001
Services
Mphasis offers a comprehensive range of Information Technology services encompassing business process outsourcing, infrastructure technology solutions, and application services such as development, support, and maintenance. Its primary industry focus includes sectors like financial services and insurance, healthcare, manufacturing, government agencies, transportation, communications, and consumer retail.
See also
- List of IT consulting firms
- List of Indian IT companies
- Electronic Data Systems
- Hewlett-Packard
- HP Enterprise Services
External links
- Business process outsourcing companies of India
- Software companies of India
- Blackstone Inc. companies
- 2000 establishments in Karnataka
- Indian companies established in 2000
- Software companies established in 2000
- Companies listed on the National Stock Exchange of India
- Companies listed on the Bombay Stock Exchange