Mindteck ranked amongst the fastest growing technology firms in Asia for the second time

 

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Bangalore, December 28, 2009: Mindteck (BSE: MDTK), a global Technology and IT Services Company today announced that it ranked 245 on the Deloitte Technology Fast 500 Asia Pacific 2009, a ranking of the 500 fastest growing technology companies in Asia Pacific. Rankings are based on percentage revenue growth over three years.

 

Mindteck grew 182.8% percent during FY09. The Technology Fast 500 list is compiled from Deloitte’s Technology Fast 50 Asia Pacific programs, nominations submitted directly to the Technology Fast 500, and public company database research. Deloitte determines the average percentage growth of fiscal year revenue over three years.

 

In addition to ranking on Deloitte’s Technology Fast 500, Mindteck ranked 34 on the Deloitte Technology Fast 50 India 2009, which is a ranking of the 50 fastest growing technology firms in India.

 

Commenting on this occasion, Pankaj Agarwal, Managing Director and Group CEO of Mindteck said, “We are very excited to be part of this prestigious list for the second consecutive year and hope to sustain the momentum in the future as well”.

 

"Making the Deloitte Technology Fast 500 is commendable in today’s highly competitive technology industry," said Ian Thatcher, partner in charge of Deloitte’s Technology Fast 500 Asia Pacific program. "We congratulate Mindteck on being one of the 500 fastest growing technology companies in the region."

 

Mindteck previously ranked 310 on 2008 Deloitte Technology Fast 500 Asia Pacific and 41 on 2008 Deloitte Technology Fast 50 India.

 

Technology Fast 500 Asia Pacific selection and qualifications

The Technology Fast 500 list is compiled from Deloitte’s Technology Fast 50 Asia Pacific programs, nominations submitted directly to the Technology Fast 500, and public company database research.  To qualify for the Technology Fast 500, entrants must have had first year operating revenues of at least US$50,000.

 

Entrants must also be public or private companies headquartered in Asia Pacific and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; Manufactures a technology related product, or devotes a significant proportion of revenues to the research and development of technology. 

 

About Deloitte

 

“Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management and tax services to selected clients.  These firms are members of Deloitte Touche Tohmatsu, a Swiss Verein (“DTT”).  Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates.  DTT helps coordinate the activities of the member firms but does not itself provide services to clients.  DTT and the member firms are separate and distinct legal entities, which cannot obligate the other entities.  DTT and each DTT member firm are only liable for their own acts or omissions, and not those of each other.  Each DTT Member Firm is structured differently in accordance with national laws, regulations, customary practice and other factors, and may secure the provision of professional services in their territories through subsidiaries, affiliates and/or other entities.

 

 

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity.  Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its Member Firms.

 

 

 

About Mindteck

Mindteck is a global Technology and IT Services Company that delivers business and technology solutions to a wide range of Fortune 500 companies, multinationals, and successful mid market enterprises around the globe. It has offices and development centers in India, USA, UK, Germany, Netherlands, Singapore, Malaysia, and Bahrain. Mindteck is a provider of end to end full scale IT Services, IT Infrastructure, Security and Managed Services, and Product Engineering and R&D Services.

 

Mindteck (India) Limited is listed on the Bombay Stock Exchange (BSE 517344). It is an ISO 9001:2000, ISO 27001:2005, ISO 13485 certified, and a SEI CMMi Level 5 assessed Company.