Mindtree gains after technology tie-up with SAP

Mindtree rose 1.25% to Rs 1440 at 10:42 IST on BSE after the company and SAP announced their first managed mobility offering for the Australia market.

The announcement was made during trading hours today, 8 May 2014.

Meanwhile, the S&P BSE Sensex was up 90.12 points or 0.4% at 22,414.02.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 7,704 shares in the past two weeks.

The stock hit a high of Rs 1,445 and a low of Rs 1,428.40 so far during the day.

Mindtree will deliver SAP mobile solutions in the cloud and with a pay-by-usage model.

Managed mobility services from Mindtree and SAP enable organizations to rapidly mobilize their business with little complexity, minimal set-up time, and zero infrastructure costs, Mindtree said. The company will offer an end-to-end suite of services including consulting, installation, hosting, and maintenance for the SAP Work Manager application in the cloud, Mindtree said in a statement.

Parthasarathy NS, President and Chief Operating Officer, Mindtree said, "This managed mobility cloud offering speeds time to market through a low-risk solutions that cuts across industries. Mindtree's managed mobility offering combines the best of both worlds: Mindtree's expertise in delivering superior mobile experiences and SAP's leading enterprise mobility portfolio".

Greg Miller, Chief Operating Officer, SAP ANZ said, "Australian businesses are asking for a cloud-enabled mobile offering from SAP to underpin their cloud strategy. The Mindtree partnership delivers a consumption-based pricing model that allows customers to scale their mobile solutions over time, and enables ongoing mobile innovation. Importantly, it alleviates significant up-front capital expenditure, which is critical for many clients".

As a market leader in enterprise application software, SAP helps companies of all sizes and industries run better.

On consolidated basis, Mindtree's net profit rose 10.96% to Rs 98.20 crore on 4.18% growth in net sales to Rs 823.70 crore in Q4 March 2014 over Q3 December 2013.

Mindtree is a global information technology solutions company.

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