Mphasis

File:Mphasis - Unlease the Next.jpg

Mphasis was formed in June 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998 in Santa Monica by Jerry Rao{{cite web |url=http://www.chicagobooth.edu/news/daa2006/01-rao.aspx |title= (Jerry) Rao: 2006 Distinguished Entrepreneurial Alumni Award Winner |publisher=Chicagobooth.edu |access-date=2010-08-19 |archive-url=https://web.archive.org/web/20100528133231/http://www.chicagobooth.edu/news/daa2006/01-rao.aspx |archive-date=28 May 2010 |url-status=dead}} and Jeroen Tas.[http://investing.businessweek.com/research/stocks/private/person.asp?personId=924875 Jeroen Tas: Executive Profile and Biography - Business Week]{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}) and the Indian IT services company BFL Software Limited (founded in 1992).{{cite web|url=http://www.moneycontrol.com/company-facts/mphasis/history/MB02 |title=Company History of Mphasis |publisher=Moneycontrol.com |access-date=2010-08-19}}

In June 2006 Electronic Data Systems (EDS) purchased a controlling stake in the company (42%) for $380 million and operated the company as an independent EDS unit.[http://www.business-standard.com/india/news/eds-acquires-majority-stake-in-mphasis/1706/on EDS acquires majority stake in Mphasis]

On 13 May 2008, Hewlett-Packard confirmed that it had reached a deal with Electronic Data Systems to acquire the company for $13.9 billion.[http://news.smh.com.au/world/hp-to-buy-eds-for-139-bln-dlrs-to-expand-services-20080514-2e2f.html HP to buy EDS for 13.9 Billion US Dollars, to expand services] The deal was completed on 26 August 2008.

In September 2009, Mphasis changed its brand identity by dropping EDS association to become "Mphasis, an HP Company" after HP retired EDS Brand to become "HP Enterprise Services". Mphasis operated as an independent HP subsidiary with its own board and continued to be listed on Indian markets as "Mphasis Limited".{{cite web |url=http://mphasis.com/pdfs/BrandingIdentity.pdf |title=Mphasis become HP Company|access-date=2010-08-19 |url-status=dead |archive-url=https://web.archive.org/web/20101126084452/http://mphasis.com/pdfs/BrandingIdentity.pdf |archive-date=26 November 2010}} HP owned close to 62% in Mphasis and Mphasis got around 50% of its revenues from HP.[http://economictimes.indiatimes.com/tech/ites/tough-time-ahead-for-mphasis-as-hewlett-packard-cut-its-sales-forecast/articleshow/16727352.cms Tough time ahead for Mphasis as Hewlett Packard cut its sales forecast]

Mphasis marked $1 billion in revenues and registered a consolidated revenue of RS 50.37 billion ($1,099.3 million) for the year ended 31 October 2010 becoming the sixth Indian IT company to do that.{{cite news |url=http://articles.economictimes.indiatimes.com/2010-11-23/news/27592381_1_mphasis-revenue-mark-net-profit |title=Mphasis crosses $1 billion revenue mark, PAT up 20% |work=The Times of India |date=23 November 2010 |access-date=23 June 2011 |archive-url=https://archive.today/20120710070020/http://articles.economictimes.indiatimes.com/2010-11-23/news/27592381_1_mphasis-revenue-mark-net-profit |archive-date=10 July 2012 |url-status=dead}}

In February 2014, Mphasis changed its logo and the brand name as Mphasis Unleash the Next, seeking to boost business other than from parent Hewlett-Packard, its largest client.{{cite web |title=MphasiS unveils new brand identity |url=https://www.thehindubusinessline.com/info-tech/mphasis-unveils-new-brand-identity/article20722290.ece1 |website=Businessline |date=5 February 2014 |language=en}}

On 30 June 2015, Mphasis announced the signing of a definitive agreement to transfer a significant portion of its domestic business, to Hinduja Global Solutions (HGS). On 10 July 2015, Mphasis announced it will move 2,000 employees to Karvy Data Management Services Ltd (KDMSL) as part of a deal signed to partially sell its domestic outsourcing business to Karvy.{{citation needed|date=November 2020}}

In 2016, after Hewlett-Packard announced plans to sell its controlling stakes in Mphasis, three companies Tech Mahindra, Apollo Global Management and Blackstone Group entered the race to acquire Mphasis. Tech Mahindra emerged as the frontrunner{{cite news|title=Tech Mahindra leads race to buy Mphasis|url=http://timesofindia.indiatimes.com/tech/tech-news/TechM-leads-race-to-buy-Mphasis/articleshow/51283351.cms|access-date=27 April 2016|work=The Times of India}} before it decided to pull out in order to avoid a bidding war with other companies.{{cite news|title=Tech Mahindra pulls out of race to acquire Mphasis|url=http://www.business-standard.com/article/companies/tech-mahindra-pulls-out-of-race-to-acquire-mphasis-116030900567_1.html|access-date=27 April 2016|work=Business Standard}} Later that year, Blackstone acquired Hewlett-Packard's 60.17% stake in Mphasis for {{INR}}5,466 crore ($815 million); Blackstone's subsequent open offer to acquire an additional 26% from public shareholders failed.{{cite news|title=Blackstone buys control of Mphasis|url=http://www.thehindu.com/business/Industry/blackstone-india-to-acquire-majority-stake-in-mphasis-in-a-upto-11-billion-deal/article8432367.ece|access-date=27 April 2016|work=The Hindu}}{{cite news |title=Blackstone's open offer for Mphasis fails; ends with 60% stake |url=https://www.vccircle.com/blackstone-s-open-offer-mphasis-fails-ends-60-stake |access-date=10 June 2024 |work=VCCircle}}

On 29 January 2017, Nitin Rakesh joined Mphasis as the chief executive officer and director.{{cite news|title=Mphasis was a jewel hidden in the HP family: new CEO|url=http://timesofindia.indiatimes.com/business/india-business/mphasis-was-a-jewel-hidden-in-the-hp-family-new-ceo/articleshow/56871405.cms|website=The Times of India}} On 7 Aug 2018 the Mphasis Board announced a buyback offer for its shareholders at an approximate premium of 17.4%.{{cite web |title=Mphasis buyback offer opens today |url=https://www.thehindubusinessline.com/markets/stock-markets/mphasis-buyback-offer-opens-today/article25681908.ece |website=Businessline |date=7 December 2018 |language=en}}

In April 2021, Blackstone committed up to $2.8 billion to acquire controlling stake in Mphasis. A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments and other long-term investors will be co-investing along with Blackstone.{{cite news |title=Blackstone, other investors commit up to $2.8 billion to acquire controlling stake in Mphasis |url=https://www.thehindu.com/business/Industry/blackstone-other-investors-commit-up-to-28-billion-to-acquire-controlling-stake-in-mphasis/article34412680.ece |work=The Hindu |date=26 April 2021 |language=en-IN}}

File:Bagmane Tech Park, Bangalore (2024) 18.jpg, Bangalore]]

Mphasis has more than 60 sales and delivery centers in India, US, UK, China, Australia, Canada, Japan, France, Germany, Netherlands, Belgium, Ireland, Poland, Sweden, Switzerland, Hungary, Singapore, Indonesia, Tunisia, Mauritius, New Zealand, Taiwan, Mexico, Costa Rica, Argentina, Malaysia, Philippines and Saudi Arabia.[https://www.mphasis.com/home/corporate/contactus.html Mphasis Offices] In India, it has centers in Bangalore, Chennai, Pune, Hyderabad, Mumbai, Noida and Mangalore.{{Cite web |date=2022-03-15 |title=This IT Firm With 29K Employees Is Offering Work From Home Jobs; Women-Only Hiring Is |url=https://trak.in/tags/business/2022/03/15/this-it-firm-with-29k-employees-is-offering-work-from-home-jobs-women-only-hiring-is-on/ |access-date=2022-06-22 |website=Trak.in - Indian Business of Tech, Mobile & Startups |language=en-US}}

• Navion Software, China (2002){{cite news |date=25 October 2002 |title=Mphasis to acquire Navion Software of China |publisher=Archives.infotech.indiatimes.com |url=http://archives.infotech.indiatimes.com/news/software/Mphasis-to-acquire-Navion-Software-of-China/articleshow/26245467.cms |access-date=2010-08-19}}
• Kshema Technologies, Bangalore, India (2004){{cite news |date=3 April 2004 |title=MphasiS to acquire Kshema Technologies |work=The Hindu |location=Chennai, India |url=http://www.hindu.com/2004/04/03/stories/2004040305831600.htm |url-status=dead |access-date=2010-08-19 |archive-url=https://web.archive.org/web/20040622230637/http://www.hindu.com/2004/04/03/stories/2004040305831600.htm |archive-date=22 June 2004}}
• Onida Infotech Services (Mirc Electronics SAP Division), Mumbai, India (2004)[http://www.business-standard.com/india/news/mphasis-to-buy-out-sap-divisionmirc-electronics/142823/ MphasiS to buy out SAP division of MIRC Electronics]
• Princeton Consulting, UK (2005)[http://www.financialexpress.com/news/mphasis-acquires-princeton-consulting-in-rs-60-cr-deal/127037/ MphasiS acquires Princeton Consulting in Rs 60 cr deal]
• Eldorado Computing, US (2005){{cite news |date=15 March 2005 |title=MphasiS Buys Eldorado Computing |work=The New York Times |url=https://query.nytimes.com/gst/fullpage.html?res=9C07E7D9123CF936A25750C0A9639C8B63 |access-date=2010-08-19}}
• AIG Systems Solutions, India (2009){{cite web |date=12 August 2009 |title=MphasiS acquires AIG's IT arm in India |url=http://www.business-standard.com/india/news/mphasis-acquires-aig%5Cs-it-arm-in-india/70553/on |access-date=2010-08-19 |work=Business Standard}}
• Fortify Infrastructure Services, US (2010){{cite web |date=8 April 2010 |title=HP's MphasiS Buys Fortify for Remote Services |url=https://www.pcworld.com/article/193775/hps_mphasis_buys_fortify_for_remote_services.html |access-date=2010-08-19 |publisher=Pcworld.com}}
• Wyde Corporation, US (2011){{cite web |date=1 August 2011 |title=Mphasis paid 2-4.5 times sales for Wyde in cash: CEO |url=http://www.moneycontrol.com/news/business/mphasis-paid-2-45-times-sales-for-wydecash-ceo_571222.html |access-date=2011-08-01 |publisher=Moneycontrol.com}}
• Digital Risk LLC, US (2012){{cite news |date=3 December 2012 |title=MphasiS shares surge over 6% on Digital Risk deal |newspaper=Zee News |url=http://zeenews.india.com/business/news/companies/mphasis-shares-surge-over-6-on-digital-risk-deal_65542.html |access-date=3 December 2012}}
• Stelligent, US (2018){{cite news |title=DevOps Automation Services Specialist Stelligent Acquired by Mphasis |url=https://stelligent.com/stelligent-acquired-by-mphasis |access-date=16 November 2018}}
• Datalytyx (2020)
• Blink UX (2021){{cite news |last1=Shinde |first1=Shivani |date=22 September 2021 |title=Mphasis acquires US-based Blink UX for $94 mn in an all cash deal |newspaper=Business Standard India |url=https://www.business-standard.com/article/companies/mphasis-acquires-us-based-blink-ux-for-94-mn-in-an-all-cash-deal-121092200449_1.html}}

• BFL Software and MphasiS (March 2001){{cite web |title=Mphasis Company History - Business Standard News : Page 1 |url=https://www.business-standard.com/company/mphasis-3361/information/company-history/ |website=Business Standard |publisher=Business Standard}}{{cite web |title=Mphasis : Merger gains - The Financial Express |url=https://www.mphasis.com/home/corporate/news/archives/mergergainsthefinancialexpress.assetType.mphasis~category!news_archive.html |website=mphasis }}

==Services==

{{unreferenced section|date=November 2020}}

Mphasis provides Information Technology (IT) services, including business process outsourcing, infrastructure technology, and application services. The application services offered by the company includes application development, maintenance and support. The markets served by the company are financial services and insurance, healthcare, manufacturing, government, transportation, communications, and consumer and retail industries.

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