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<p><b>New page</b></p><div>{{short description|Indian multinational technology company}}<br />
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{{Infobox company<br />
| name = Mastek<br />
| logo = Mastek_logo.png<br />
| logo_size = 200px<br />
| logo_caption = Official logo since 1982<br />
| image = Mastek Building March 2019.jpg<br />
| image_size = 280px<br />
| image_caption = Mastek main building in [[Mumbai]], [[India]]<br />
| type = [[Public]]<br />
| traded_as = {{plainlist|<br />
*{{BSE|523704}}<br />
*{{NSE|MASTEK}}}}<br />
| ISIN = INE759A01021<br />
| industry = [[Software]] [[Information technology]]<br />
| foundation = {{start date and age|1982|5}}<br />
| founders = {{plainlist|<br />
*[[Sudhakar Ram]]<br />
*Ashank Desai<br />
*Ketan Mehta<br />
*R. Sundar}}<br />
| location_city = [[Mumbai]], [[Maharashtra]]<br />
| locations = [[India]] (13)<br />
[[UK]] (3)<br />
[[US]] (4)<br />
[[UAE]] (4)<br />
KSA (1)<br />
[[Bahrain]] (1)<br />
[[Kuwait]] (1)<br />
[[Qatar]] (1)<br />
[[Egypt]] (1)<br />
[[Netherland]] (1)<br />
[[Singapore]] (1)<br />
[[Malaysia]] (1)<br />
[[Australia]] (1)<br />
| key_people = Ashank Desai<br>([[CEO]])<br />
| services = Agile Consulting, Application Support and Maintenance, Digital Commerce, Application Development, Business Intelligence, and Assurance & Testing<br />
| revenue = 151.1 million USD (in FY 2019–20)<br />
| num_employees = 3,602 (Latest as per Q3FY21 results)<br />
| subsid = {{Unbulleted list|Digility INC|Taistech|Indigoblue Consulting|Evolutionary Systems}}<br />
| location_country = India<br />
| homepage = {{URL|www.mastek.com/}}<br />
}}<br />
<br />
'''Mastek''' is an Indian [[Multinational corporation|multinational]] [[technology]] company that offers enterprise level digital transformation services and software for large public and private enterprises in the UK, US and India. Mastek has more than 2,200 employees across the 11 offices it operates out of in the UK, US and India. The company is listed on the [[National Stock Exchange of India]] Limited under the symbol MASTEK and BSE under the 523704.({{BSE|523704}})<ref>{{Cite web|url=https://www.mastek.com/sites/default/files/PDF%20downloads/Finance%20information/Annual%20reports/2018/Mastek-Limited-Annual-Report-2017-18.pdf|title=Mastek Annual Report|website=www.mastek.com|language=en}}</ref><br />
<br />
==History==<br />
<br />
=== Founded (1982) ===<br />
[[File:Goanetters, at one of the early Goanet meetings in Goa, probably 1998. 01.jpg|thumb|Co-founder Ashank Desai in [[Goa]], 1998]]<br />
<br />
Mastek was incorporated on 14 May 1982 as Management and Software Technology Private Limited, a business designing and delivering computer software.<ref>{{Cite web|url=https://www.goodreturns.in/company/mastek/history.html#1552847400|title=History of Mastek Ltd., Company|website=Goodreturn|language=en|access-date=2019-03-18}}</ref> The name was changed to Mastek on 16 August 1992.<br />
<br />
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]] who 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 Ram now operates as the Vice Chairman and Managing Director of the Mastek Group.<ref>{{cite web|url=https://www.goodreturns.in/company/mastek/history.html |title=History of Mastek Ltd Company |language=en }}</ref><br />
<br />
===IPO and International Expansion (1992)===<br />
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]].<br />
<br />
In 1995 Capita engaged Mastek to bid for the [[London congestion charge|London Congestion Charging scheme]]. The scheme went live as planned, on 17 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.<br />
<br />
Majesco, the U.S. subsidiary of global technology service 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 service provider and third-party administrator that focuses on the North American life and annuity insurance industry. Systems Task Group (STG) an IP-based enterprise service 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.<br />
<br />
In 2014, MajescoMastek demerged<ref>{{Cite web|url=https://www.thehindubusinessline.com/info-tech/Mastek-to-demerge-list-insurance-business/article20865348.ece|title=Mastek to demerge, list insurance business|last=Charlie|first=Adith|website=@businessline|language=en|access-date=2019-03-19}}</ref> 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.<br />
<br />
In 2006, Forbes Asia ranked Mastek amongst the World's 200 Best Small and Medium-sized Enterprises, all under Dollar 1 billion in revenues.<br />
<br />
In 2009 and 2010, Mastek 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.<ref>{{cite web|url=https://www.ndtv.com/business/stock/mastek-ltd_mastek/reports|title= Auditors Report od Mastek-NDTV|language=en}}</ref><br />
<br />
From 2006 to 2014, Mastek ranked amongst the Top 100 outsourcing companies in theWorld by The International Association of Outsourcing Professionals (IAOP).<ref>{{cite web|url=https://www.livemint.com/Companies/ZTKhS3cSHFm4p1kUXj0KAN/12-Indian-outsouring-cos-among-top-global-100.html|title=12 Indian outsouring cos among top global 100| language = en}}</ref><ref>{{cite web|url=https://economictimes.indiatimes.com/tech/ites/20-indian-firms-among-worlds-top-100-in-outsourcing-report/articleshow/3004656.cms|title= 20 Indian firms among world's top 100 in outsourcing | language=en}}</ref><ref>{{Cite web|url=https://www.livemint.com/Companies/ZTKhS3cSHFm4p1kUXj0KAN/12-Indian-outsouring-cos-among-top-global-100.html|title=12 Indian outsouring cos among top global 100|date=13 July 2012|website=mint}}</ref><ref>{{Cite web|url=https://economictimes.indiatimes.com/tech/ites/20-indian-firms-among-worlds-top-100-in-outsourcingreport/articleshow/3004656.cms|title=20 Indian firms among world's top 100 in outsourcing: Report|via=The Economic Times}}</ref><br />
<br />
===Growth and acquisitions (2015–2018)===<br />
<br />
In 2015 Mastek acquired IndigoBlue 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><br />
<br />
In 2016 Mastek acquired TAISTech a US-based digital commerce expert. TAISTech delivers products including Oracle Commerce ([[Art Technology Group|ATG]]) & [[Endeca]], Oracle and [[Demandware]], Marketing Cloud, [[Commercetools]], CPQ (Configure Price Quote), Integration ESB Platforms, Open-Source technology, other Cloud Digital Transformation Services around Amazon, Oracle, Microsoft, and Google Cloud Platform.<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/companies/mastek-pegs-taistech-revenue-at-3630-mn-by-march-2017-chief-927598.html|title=Mastek pegs TAISTech revenue at $30 mn by March 2017: Chief|website=Moneycontrol|access-date=2019-03-18}}</ref><br />
<br />
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.{{Citation needed|date=August 2019}}<br />
<br />
==Initiatives==<br />
<br />
=== Mastek Foundation ===<br />
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.<ref>http://www.csrvision.in/mastek-foundation-aims-to-raise-rupees-forty-lakhs-in-3-hours/</ref><ref>http://www.mastekfoundation.org.in/32-2/</ref><ref>{{Cite web|url=https://indiacsr.in/csr-mastek-foundation-to-educate-3500-children/|title=CSR : Mastek Foundation To Educate 3500 Children|date=19 April 2018}}</ref><br />
<br />
===Project Deep Blue===<br />
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 over a course of three months. As a part of this competition, participating engineering graduates create working services for real life problems from the social sectorAs a part of this competition, participating engineering graduates exercised their software and IT knowledge to solve real life problems from the social sector. Teams which make through the selection process further gain from working with latest cutting-edge technologies like neural nets, social data analytics, machine learning, advanced image processing and [[Internet of things|IoT]] for problem solving.<ref>https://ves.ac.in/vesit/industry-project-competition-deep-blue/</ref><ref>{{Cite web|url=https://blog.mastek.com/project-deep-blue-season4|title=Onward and Upward...Project Deep Blue Season 4 is all set for a roll-out|first=Kavita|last=Desai|website=blog.mastek.com}}</ref><ref>{{Cite web|url=https://deepblue.co.in/|title=Home}}</ref><ref>{{Cite web|url=http://www.afternoondc.in/education-careers/project-deep-blue-students-find-a-route-to-solve-real-life-civic-problems/article_241141|title=afternoondc.in|website=www.afternoondc.in}}</ref><br />
<br />
===Mastek 4.0===<br />
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>{{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}}</ref><br />
<br />
==Services==<br />
<br />
Application Development – Bespoke application development<ref>{{Cite web|url=https://www.mastek.com/application-development|title=Services {{!}} Application Development|website=www.mastek.com|language=en}}</ref><br />
<br />
Agile Consulting – Agile consulting and programme management<ref>{{Cite web|url=https://www.mastek.com/agile-consulting|title=Services {{!}} Agile Consulting|website=www.mastek.com|language=en}}</ref><br />
<br />
Business Intelligence & Analytics – Enterprise level data insight<ref>{{Cite web|url=https://www.mastek.com/business-intelligence-analytics|title=Services {{!}} Business Intelligence & Analytics|website=www.mastek.com|language=en}}</ref><br />
<br />
Application Support & Maintenance – DevOps and agile service management<ref>{{Cite web|url=https://www.indigoblue.co.uk/devops-consulting|title=Services {{!}} Application Support & Maintenance|website=www.mastek.com|language=en}}</ref><br />
<br />
Assurance & Testing – Integrated software testing<ref>{{Cite web|url=https://www.mastek.com/assurance-and-testing|title=Services {{!}} Assurance & Testing|website=www.mastek.com|language=en}}</ref><br />
<br />
Digital Commerce and Self-Service Portals – Omni-channel Services<ref>{{Cite web|url=https://www.mastek.com/digital-commerce|title=Services {{!}} Digital Commerce|website=www.mastek.com|language=en}}</ref><br />
<br />
Automation / Robotic Process Automation (RPA)<br />
<br />
Cloud Migration and Digital Transformation<br />
<br />
Integration Platforms / Enterprise Service Bus for MDM<br />
<br />
Customer Experience – CPQ, Service, Sales, CRM, Content/CMS<br />
<br />
Back-office Application Support – Oracle E-Business Suite, Oracle Cloud ERP, Oracle Taleo/HCM, Peoplesoft, SAP<br />
<br />
==Notable alumni==<br />
[[Sudhakar Ram]], Founder<br />
<br />
Ashank Desai, Founder<ref>{{Cite web|url=https://www.nasscom.in/past-chairman-council|title=Ashank Desai|language=en}}</ref><ref>{{Cite web|url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=8369283&privcapId=141051|title=Ashank Desai|language=en}}</ref><br />
<br />
Ketan Mehta, Founder<ref>{{cite web |last1=Mehta |first1=Ketan |url=https://in.wallmine.com/people/47128/ketan-mehta |title=Ketan Mehta |website=wallmine}}</ref><br />
<br />
Radhakrishnan Sundar, Founder<ref>{{Cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=617382&privcapId=272239347|title=Radhakrishnan Sundar|language=en}}</ref><br />
<br />
== References ==<br />
{{reflist|30em}}<br />
<br />
==External links==<br />
* {{Official website|http://mastek.com/}}<br />
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[[Category:Information technology companies of India]]<br />
[[Category:Software companies based in Mumbai]]<br />
[[Category:1982 establishments in Maharashtra]]<br />
[[Category:Technology companies established in 1982]]<br />
[[Category:Companies listed on the National Stock Exchange of India]]<br />
[[Category:Companies listed on the Bombay Stock Exchange]]</div>->DaxServer