Mastek

Mastek Limited
Public
Traded as BSE: 523704; NSE: MASTEK
Industry Software
Founded May 1982
Founders Ram Sudhakar, Ashank Desai, Ketan Mehta, R. Sundar
Headquarters Mumbai, India, India
Number of locations
 India, U.K., U.S., Malaysia
Key people
 Sudhakar Ram (Founder, Group CEO & MD)
Products

Insurance Enterprise Platforms: Elixir, ElixirAsia, STG, Vector.[1]

Broker back-office: Picador.
Services Information technology
Revenue $154 million(in FY 2013-14)
Number of employees
 3,300
Website Official Website

Mastek Limited (BSE: 523704) is a multinational information technology services company headquartered in Mumbai, India. It is one of the oldest software companies in India.[2] It has four development centers in India. Mastek has major presence in the U.S., Canada, U.K., Europe, Asia-Pacific and Middle East and also eight global delivery centres in India and Malaysia.[3] Mastek and its subsidiaries employ over 3,200 professionals.

History

Mastek (Management and Software Technologies) was founded in May 1982[4] by Ashank Desai, Ketan Mehta and R. Sundar.[5] They were later joined by the current Managing Director and Group CEO of the company, Sudhakar Ram. The company started operations in a two-bedroom apartment in Ghatkopar, a central Mumbai suburb, which was also the home of Ketan Mehta.

The company was among the first ones in India to create software products. Mastek USA (now known as MajescoMastek) 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.[6] 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.[7][8][9]

Mastek Ltd

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.

See also

References

  1. ↑ "Mastek looks to buy insurance vertical in UK, N America-ITeS-Infotech-The Economic Times". Economictimes.indiatimes.com. 2010-06-07. Retrieved 2010-07-16.
  2. ↑ "Mastek Initiating Coverage.pmd" (PDF). Retrieved 2010-07-16.
  3. ↑ "Mastek Ltd". Business.mapsofindia.com. Retrieved 2010-07-16.
  4. ↑ "Mastek limited [MASTEKs] History". Source2update.com. Retrieved 2010-07-16.
  5. ↑ Mastek Quick Facts
  6. ↑ "Mastek History". Retrieved 2014-09-12.
  7. ↑ "Company History — Mastek Ltd.". The Economic Times. Retrieved 2014-09-12.
  8. ↑ "Mastek Acquires Kognitio Data Migration Offering". Money Control. Retrieved 2014-09-12.
  9. ↑ "Mastek Ltd. History". NDTV Profit. Retrieved 2014-09-12.

External links

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