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Mindtree Acquires Two Companies In a All Cash Deal

| Jul 17, 2015

Mindtree Acquires Two Companies In a All Cash Deal
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Janet Dorenkott Founder Relational Solutions

Mid-tier software services firm Mindtree bought UK-based Bluefin Solutions and Ohio, US-based Relational Solutions Inc for a combined value of nearly $75 million as part of the Bangalore-based firm’s effort to shore up its digital business.

The Mindtree Board acquired 100 per cent equity interest in UK-based Bluefin Solutions for 42.3 million pounds (about Rs 419.6 crore) in cash. The consideration includes an upfront payment of 34 million pounds and earn out of 8.3 million pounds payable over the next three years.

“We are very excited about the synergies both Mindtree and Bluefin bring in the digital space. The acquisition will strengthen our position to offer the full spectrum of SAP services. Bluefin’s focus on SAP HANA and their expertise across the SAP portfolio creates the scale to deliver transformational services while driving greater efficiencies and operational effectiveness,” said Krishnakumar Natarajan, chief executive and co-founder of Mindtree.

Mindtree bought US-based analytics provider Relational Solutions Inc (RSI) for about $10 million in a all cash deal. RSI provides analytics solutions primarily for the consumer packaged goods sector. The consideration includes an upfront payment of $7 million and earn out of $3 million payable over the next two years.

“CPG clients are seeking to use advanced analytics to improve ROI on trade spends, improve on-shelf availability and correct merchandising voids. With the Relational acquisition, we see opportunities to deliver improved value using predictive analytics capabilities in these areas, and further the digital transformation journey of our clients,” Mindtree EVP and Head Digital Business Radha R said.

Relational Solutions Inc is a winner of the Cleveland Weatherhead 100 Fastest Growing Businesses Award and is on the Inc. 500 Fastest Growing Privately Held Businesses List two years in a row. With a background in data warehousing and business intelligence, they are experts in delivering enterprise demand signal repositories to the consumer goods industry and deal with data cleansing and integration issues associated with point of sale (POS) data.

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