Mindtree focusing on IP-driven growth as traditional legacy biz slows down

The move comes at a time when the traditional software maintenance and support works are slowly drying up

Midsize IT services company Mindtree has set up a dedicated business division with the aim to build intellectual properties (IPs) in new-age technologies. The company is looking to create a recurring revenue stream to compensate for the slower pace of growth in its traditional legacy business. 

Named as ‘Enterprise Reimagination’ division, the 50-member team is being led by Satya Ramaswamy, who joined the IT services firm from Tata Consultancy Services (TCS) in January.

The new unit has been mandated to develop platforms and solutions in areas like artificial intelligence (AI), machine learning (ML), big data and blockchain, which will help