Mindtree, a leading digital transformation and technology services company, announced today that it has been selected as a strategic partner by Western Asset, one of the world's leading active fixed-income investment managers, to help drive innovation and differentiated experiences for the company's global investors. Mindtree will initially partner with the Western Asset team on their IT infrastructure and application portfolio, while also enabling several strategic business initiatives.
As part of this multi-year engagement, Mindtree will enable Western Asset to create a more flexible operating model that can quickly adapt to changing business needs and accelerate timeto-value. By leveraging its deep domain and digital expertise, Mindtree will help Western Asset accelerate the transition to a platform-based operating model, automate enterprise systems, and maintain industry-leading best practices for IT services. This will enable Western Asset to scale overall productivity, agility and delivery.
"Western Asset is excited to partner with a sophisticated managed service provider that has the proven ability to transform IT services using best-in-class tools and platforms to drive efficiency and help us meet our evolving business needs," said Ric Okun, Global Head of Information Technology at Western Asset. "We are very pleased to have selected Mindtree, largely due to the company's proven experience in driving IT transformation and their talented team."
"Mindtree is the right choice to drive our IT transformation program. Mindtree's focus on innovation, digital expertise and team-based culture is a very good match for Western Asset," said Penny Morgan, Head of Business Transformation at Western Asset.
"We are pleased to be a part of Western Asset's technology transformation journey to deliver higher levels of efficiency and effectiveness," said Venu Lambu, Executive Director and President, Global Markets, at Mindtree. "As part of this strategic partnership, we look forward to enabling a fundamental shift in Western Asset's IT operating model. Complementing Western Asset's distinctive client-centric approach with scalable and resilient technology will further boost the firm's ability to continue to meet and exceed client expectations."
Shares of MindTree Limited was last trading in BSE at Rs. 4775.90 as compared to the previous close of Rs. 4740.95. The total number of shares traded during the day was 99274 in over 9012 trades.
The stock hit an intraday high of Rs. 4917.50 and intraday low of 4596.05. The net turnover during the day was Rs. 472962487.00.