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==History==
==History==


=== '''Founded (1982)''' ===
===='''Founded (1982)'''====




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<br />
<br />


=== '''IPO and International Expansion (1992)''' ===
===='''IPO and International Expansion (1992)'''====
In 1992 Mastek acquired Carter Cast Systems, an IT company as part of the plan to establish the Mastek footprint in the UK and set up base in [[Theale]].
In 1992 Mastek acquired Carter Cast Systems, an IT company as part of the plan to establish the Mastek footprint in the UK and set up base in [[Theale]].


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<br />
<br />


===Growth and Acquisitions===
====Growth and Acquisitions====
In 2015 Mastek acquired a consultancy firm specialising in Agile programme management.<ref>{{Cite news|url=https://economictimes.indiatimes.com/tech/ites/mastek-buys-uk-agile-development-company-after-majesco-spin-off/articleshow/48097944.cms|title=Mastek buys UK agile development company after Majesco spin-off|last=Mendonca|first=Jochelle|date=2015-07-16|work=The Economic Times|access-date=2019-03-18}}</ref><ref>{{Cite web|url=https://www.vccircle.com/mastek-acquires-uk-based-it-consulting-startup-indigoblue|title=Mastek acquires UK-based IT consulting firm IndigoBlue|date=2015-05-04|website=VCCircle|language=en-US|access-date=2019-03-18}}</ref>
In 2015 Mastek acquired a consultancy firm specialising in Agile programme management.<ref>{{Cite news|url=https://economictimes.indiatimes.com/tech/ites/mastek-buys-uk-agile-development-company-after-majesco-spin-off/articleshow/48097944.cms|title=Mastek buys UK agile development company after Majesco spin-off|last=Mendonca|first=Jochelle|date=2015-07-16|work=The Economic Times|access-date=2019-03-18}}</ref><ref>{{Cite web|url=https://www.vccircle.com/mastek-acquires-uk-based-it-consulting-startup-indigoblue|title=Mastek acquires UK-based IT consulting firm IndigoBlue|date=2015-05-04|website=VCCircle|language=en-US|access-date=2019-03-18}}</ref>


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'''Mastek 4.0'''
'''Mastek 4.0'''


Mastek 4.0 was designed to eliminate management layers and better enable employees to deliver a business impact to customers. There are now just three layers separating the CEO from the frontline developers and instead of a command and control based hierarchical structure, the entire company is organised as self-managed teams with the ability to set their own goals. Under the new organisational structure, the company also decided to do away with the traditional supervisory appraisal process and instituted a team based self-appraisal system incentivising the top performing teams.<ref>https://timesofindia.indiatimes.com/business/india-business/Self-managed-teams-get-a-role-at-India-Inc/articleshow/48850681.cms</ref>
Mastek 4.0 was designed to eliminate management layers and better enable employees to deliver a business impact to customers. There are now just three layers separating the CEO from the frontline developers and instead of a command and control based hierarchical structure, the entire company is organised as self-managed teams with the ability to set their own goals. Under the new organisational structure, the company also decided to do away with the traditional supervisory appraisal process and instituted a team based self-appraisal system incentivising the top performing teams.<ref>{{Cite web|url=https://timesofindia.indiatimes.com/business/india-business/Self-managed-teams-get-a-role-at-India-Inc/articleshow/48850681.cms|title=Self-managed teams get a role at India Inc - Times of India|website=The Times of India|access-date=2019-03-18}}</ref><ref>https://timesofindia.indiatimes.com/business/india-business/Self-managed-teams-get-a-role-at-India-Inc/articleshow/48850681.cms</ref>


==Services==
==Services==

Revision as of 13:55, 18 March 2019

Mastek Limited
Company typePublic
BSE: 523704; NSE: MASTEK
IndustrySoftwareInformation technology
FoundedMay 1982
FoundersSudhakar Ram, Ashank Desai, Ketan Mehta, R. Sundar
Headquarters
Mumbai
,
India
Number of locations
India (6 centres) United Kingdom (3 centers) United States (2 centers)
Key people
John Owen (Group CEO), Prahlad Koti (UK MD), Abhishek Singh (Group CFO), Maninder Kapoor Puri (Group CPO), Hiren Shah (SVP Service Lines)
ServicesAgile Consulting, Application Support and Maintenance, Digital Commerce, Application Development, Business Intelligence, and Assurance & Testing
Revenue$126.8 million(in FY 2017-18)
Number of employees
2000 +
Subsidiaries
  • Digility INC [www.digility.com]
  • Taistech [www.taistech.com ]
  • Indigoblue Consulting [www.indigoblue.co.uk ]
Websitemastek.com

Mastek is a global technology company delivering enterprise level digital transformation solutions[buzzword] for large public and private enterprises in the UK, US and India. Current customers include the UK Home Office, NHS, Samsung, Aviva, Specsavers and Guess.

The company reported net revenues of 832 Crores for FY2018 as compared to 572.8 Crores in FY17, reflecting an increase of 46.3% in rupee terms. Operating revenue stood at 817.2 Crores for FY18 as compared to 560.2 Crores in FY17, indicating an increase of 45.9% in rupee terms.

Mastek has more than 2,200 employees across the 11 offices it operates out of in the UK, US and India. Employee numbers grew by 31% over the 12 month period April 2017-March 2018.

Mastek is listed on the National Stock Exchange of India Limited under the symbol MASTEK and BSE under the 523704.(BSE: 523704) [1]

History

Founded (1982)

Mastek was incorporated on 14th May 1982 as Management and Software Technology Private Limited, a business designing and delivering computer software.[2] The name was changed to Mastek on 16th August 1992.


Mastek The company was founded by three Indian Institute of Management (IIM) Ahmedabad class of 1979 batch-mates including 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.[3]



IPO and International Expansion (1992)

In 1992 Mastek acquired Carter Cast Systems, an IT company as part of the plan to establish the Mastek footprint in the UK and set up base in Theale.

In 1995 Capita engaged Mastek to bid for the London Congestion Charging scheme (LCC). The scheme went live as planned, on the 17th of February, 2003. In 2003 BT Global Services invited Mastek to join the consortium, for the Spine programme. Mastek was involved in delivering and maintaining several applications for the NHS Spine over the next decade – involving over 130 deliveries during the project phase.

MajescoMastek, the U.S. subsidiary of global technology solutions[buzzword] provider Mastek was founded in 1992. In 2005, the firm acquired Entegram LLC, a Connecticut-based software company. In 2007, it acquired Vector Insurance Services a technology solutions[buzzword] provider and third-party administrator that focuses on the North American life and annuity insurance industry. Systems Task Group (STG) an IP-based enterprise solutions[buzzword] provider to the North American property and casualty (P&C) insurance industry was acquired in 2008. In 2009, MajescoMastek entered the Canadian Market. SEG Software, LLC, a provider of policy administration systems covering individual and group life, health & annuity insurance products was acquired in 2010.

In 2014, MajescoMastek demerged from Mastek consolidating all of its insurance business internationally under the new brand, Majesco. In December 2014, the firm announced the signing of an agreement to merge the business of Cover-All Technologies (NYSE MKT: COVR) with Majesco. In February 2015 Majesco acquired the consulting firm Agile Technologies.


Growth and Acquisitions

In 2015 Mastek acquired a consultancy firm specialising in Agile programme management.[4][5]

In 2016 Mastek acquired a US-based digital commerce expert. TAISTech delivers products including ATG & Endeca, Commerce Cloud, Xstore, Responsys, SRM and RightNow. [6]

Initiatives

Mastek Foundation

Mastek Foundation Founded in 2002, the Mastek Foundation is the Corporate and Social Responsibility (CSR) wing of Mastek and Majesco Ltd. Registered under the Bombay Public Trust Act, the Mastek Foundation encourages individuals, employees and corporate professionals to contribute to society. The Mastek Foundation mainly supports the promotion of education, health and nutrition, eradication of hunger, promotion of gender equality and protection of environment sustainability.[7][8][9]

Project Deep Blue

Project Deep Blue was started in 2015 as a Mastek initiative to encourage engineering students to solve social problems using coding skills; to come up with meaningful technical solutions[buzzword] over a course of three months. As a part of this competition, participating engineering graduates create working solutions[buzzword] for real life problems from the social sector. Teams which make it through the selection process, use latest cutting edge technology like Neural nets, social data analytics, machine learning, advanced image processing, iOT to build working solutions[buzzword].[10][11] [12] [13]

Mastek 4.0

Mastek 4.0 was designed to eliminate management layers and better enable employees to deliver a business impact to customers. There are now just three layers separating the CEO from the frontline developers and instead of a command and control based hierarchical structure, the entire company is organised as self-managed teams with the ability to set their own goals. Under the new organisational structure, the company also decided to do away with the traditional supervisory appraisal process and instituted a team based self-appraisal system incentivising the top performing teams.[14][15]

Services

Application Development – Bespoke application development[16]

Agile Consulting – Agile consulting and programme management[17]

Business Intelligence & Analytics – Enterprise level data insight[18]

Application Support & Maintenance – DevOps and agile service management[19]

Assurance & Testing – Integrated software testing[20]

Digital Commerce - Omnichannel solutions[buzzword][21]

Notable Alumni

Sudhakar Ram, Co-Founder[22]

Ashank Desai, Co-Founder[23][24]

Ketan Metha[25]

Radhakrishnan Sundar[26]

Current Senior Executive Team

John Owen, Group CEO[27]

Abhishek Singh, Group CFO[28]

Prahlad Koti, MD-UK[29]

Maninder Kapoor Puri, Group Chief People Officer[30]

Hiren Shah, Senior Vice President of Service Lines[31]

Awards

Ranked amongst the Best 20 Leaders by The International Association of Outsourcing Professional (IAOP), in four industry focus areas a) Government, b) Financial Services Insurance, c) Financial Services Banking, and d) Information and Communication in 2009 and 2010[32]

Forbes Asia in 2006 ranked Mastek amongst the World’s 200 Best Small and Medium-sized Enterprises, all under Dollar 1 billion in revenues.

For 8 years amongst Top 100 outsourcing companies in the World by The International Association of Outsourcing Professionals (IAOP) from 2006 to 2014[33][34]

References

  1. ^ "Mastek Annual Report" (PDF). www.mastek.com.
  2. ^ "History of Mastek Ltd., Company". Goodreturn. Retrieved 18 March 2019.
  3. ^ "History of Mastek Ltd Company".
  4. ^ Mendonca, Jochelle (16 July 2015). "Mastek buys UK agile development company after Majesco spin-off". The Economic Times. Retrieved 18 March 2019.
  5. ^ "Mastek acquires UK-based IT consulting firm IndigoBlue". VCCircle. 4 May 2015. Retrieved 18 March 2019.
  6. ^ "Mastek pegs TAISTech revenue at $30 mn by March 2017: Chief". Moneycontrol. Retrieved 18 March 2019.
  7. ^ http://www.csrvision.in/mastek-foundation-aims-to-raise-rupees-forty-lakhs-in-3-hours/
  8. ^ http://www.mastekfoundation.org.in/32-2/
  9. ^ http://indiacsr.in/csr-mastek-foundation-to-educate-3500-children/
  10. ^ https://ves.ac.in/vesit/industry-project-competition-deep-blue/
  11. ^ https://blog.mastek.com/project-deep-blue-season4
  12. ^ http://deepblue.co.in/
  13. ^ http://www.afternoondc.in/education-careers/project-deep-blue-students-find-a-route-to-solve-real-life-civic-problems/article_241141
  14. ^ "Self-managed teams get a role at India Inc - Times of India". The Times of India. Retrieved 18 March 2019.
  15. ^ https://timesofindia.indiatimes.com/business/india-business/Self-managed-teams-get-a-role-at-India-Inc/articleshow/48850681.cms
  16. ^ "Services | Application Development". www.mastek.com.
  17. ^ "Services | Agile Consulting". www.mastek.com.
  18. ^ "Services | Business Intelligence & Analytics". www.mastek.com.
  19. ^ "Services | Application Support & Maintenance". www.mastek.com. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  20. ^ "Services | Assurance & Testing". www.mastek.com.
  21. ^ "Services | Digital Commerce". www.mastek.com.
  22. ^ "Sudhakar Ram".
  23. ^ "Ashank Desai".
  24. ^ "Ashank Desai".
  25. ^ Mehta, Ketan. "Ketan Mehta". wallmine.
  26. ^ "Radhakrishnan Sundar".
  27. ^ "John Owen".
  28. ^ "Abhishek Singh".
  29. ^ "Prahlad Koti".
  30. ^ "Maninder Kapoor Puri".
  31. ^ "Hiren Shah".
  32. ^ "Auditors Report od Mastek-NDTV".
  33. ^ "12 Indian outsouring cos among top global 100".
  34. ^ "20 Indian firms among world's top 100 in outsourcing".
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