News: Acquisition is designed to help accelerate growth.
Mindtree is increasing its expertise in Salesforce with the acquisition of Magnet 360.
Magnet 360 is a Salesforce Platinum consulting partner that has a focus on sales, services and marketing cloud implementations from the Salesforce portfolio.
The reasons behind the acquisition are clear; Mindtree wants to position itself as one of the go to companies for Salesforce expertise.
The acquisition will see Mindtree add over 100 certified Salesforce experts which will help to strengthen the company’s focus on helping customers to digitise their entire back-end value chains.
Krishnakumar Natarajan, CEO and MD, Mindtree, said: "We are now seeing clients starting to invest heavily in digital transformation programs beyond just building the customer experience layer."
While the Minneapolis headquartered Magnet 360 will be able to offer its new owners plenty of expertise across the full Salesforce suite, one of the other benefits it will be able to bring is its history.
The company has been a Salesforce partner since 2004, meaning that it brings plenty of history with it such as its strategic relationships with Global 2000 companies.
Salesforce has proven to be a popular choice for consulting firms in recent times, highlighted by a number of acquisitions by Accenture and Capgemini at the beginning of this year and during 2015.
Part of the reason for this is that Salesforce is becoming an important aspect of Hybrid IT and the complexities of this is seeing more businesses look at consulting firms for advice.
For Mindtree, it is looking to accelerate growth and it clearly feels that this is a part of its business that it can excel in.
The company has also just appointed Rostow Ravanan as its new CEO and Krishnakumar Natarajan as the executive chairman.
The deal is expected to close in the next two months and is being valued at around $50 million.