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Mahindra to pick up US IT firm: Deccan Herald
BANGALORE, Feb 10: Mahindra Group has entered into a definitive agreement to acquire a majority stake in Bristlecone, Inc., a San Jose, California based IT services and solutions company.
Banglore, Feb 10: Mahindra Group has entered into a definitive agreement to acquire a majority stake in Bristlecone, Inc., a San Jose, California based IT services and solutions company.
Bristlecone, Inc. is recognised by industry analysts as leading provider of extended supply chain and enterprise consulting services.
It has a team of over 60 IT consultants primarily in the US and its clients include number of Fortune 500 companies.
Bristlecone offers enterprise solutions, supply chain management and managed services with a focus on manufacturing and supply chains and its vertical expertise extends to Apparel and Footwear, Semiconductor, Consumer Goods and Oil & Gas sectors. Bristlecone is an implementation and integration partner for SAP applications. Mahindra Group will consolidate five existing subsidiaries – Mahindra Consulting Ltd. (MCL), Mahindra Consulting (Singapore) Pte. Ltd., Mahindra Consulting GmbH, Mahindra Consulting Inc. USA and Mahindra Intertrade (UK) Ltd – and Bristlecone into a new overseas entity named Bristlecone Limited. The investment planned in the new company to fund its growth involves a cash component of US $7 million (Rs 31.5 crore). The new entity will have Mr Anand Mahindra as Chairman.
Mr. Anjanikumar Choudhari, currently Executive Vice President in M&M, will be Executive Vice Chairman and Mr Padman Ramankutty, currently CEO of Bristlecone Inc., will be President & CEO.
The acquisition brings together entities that complement each other’s strengths and offers significant synergy in business development by combining European and Asia / Pacific market presence of Mahindra & Mahindra with Bristlecone’s US presence .
It has a team of over 60 IT consultants primarily in the US and its clients include number of Fortune 500 companies.
Bristlecone offers enterprise solutions, supply chain management and managed services with a focus on manufacturing and supply chains and its vertical expertise extends to Apparel and Footwear, Semiconductor, Consumer Goods and Oil & Gas sectors. Bristlecone is an implementation and integration partner for SAP applications. Mahindra Group will consolidate five existing subsidiaries – Mahindra Consulting Ltd. (MCL), Mahindra Consulting (Singapore) Pte. Ltd., Mahindra Consulting GmbH, Mahindra Consulting Inc. USA and Mahindra Intertrade (UK) Ltd – and Bristlecone into a new overseas entity named Bristlecone Limited. The investment planned in the new company to fund its growth involves a cash component of US $7 million (Rs 31.5 crore). The new entity will have Mr Anand Mahindra as Chairman.
Mr. Anjanikumar Choudhari, currently Executive Vice President in M&M, will be Executive Vice Chairman and Mr Padman Ramankutty, currently CEO of Bristlecone Inc., will be President & CEO.
The acquisition brings together entities that complement each other’s strengths and offers significant synergy in business development by combining European and Asia / Pacific market presence of Mahindra & Mahindra with Bristlecone’s US presence .