Archive for April, 2011

Happiest Minds Technologies


Happiest Minds Technologies – Ashok Soota’s New IT Services Company Happiest Mind Technologies Pvt. Ltd. is the new IT services company founded by one of the pioneers of Indian IT, Mr. Ashok Soota on April 5, 2011. It’s interesting to see the founder’s love for the word “Mind” which appeared in his earlier company “Mind”. Prior to founding Happiest Minds Technologies, Soota was the President at WIPRO technologies. He quit WIPRO to found MindTree Technologies along with other industry veterans like Subroto Bagchi (Read our Small Talk). Soota has made it clear that he did not sign a “non-compete” agreement with MindTree Consulting. It would be interesting to see how the two ‘minds’ compete in the already overcrowded Indian IT Services without clashes. It’s an established fact that customer care is at the core of any business and apparently Soota’s new venture takes it very seriously. The objective of the company is simple – create happiest customers and happiest employees. The company boasts the following on their front page – Mission: Happiest People. Happiest Customers. Vision: To be the fastest IT services firm from India to achieve US$100 million in revenue. The company is gearing up to commence operations within next 5 months. Ashok Soota informed the press that the company will focus on clients that work on emerging technologies like cloud computing, social CRM (Customer Relationship Management), Mobile Technologies, Unified Communications, Business Analytics and Intelligence. Soota is planning to divest his 11% stake in MindTree Consulting valued at about Rs. 1600 billion. The company will have marketing offices in Mumbai, Delhi & Bangalore. Soota is already in talks with IT leaders in various domains to hire them and run Happiest Minds. The company will focus on serving Indian companies and plans to have 10-12% business from Indian clients. Our Opinion: Ashok Soota has been playing the IT services game for decades and has experience in building and growing companHappiest Minds Technologies – Ashok Soota’s New IT Services Company Happiest Mind Technologies Pvt. Ltd. is the new IT services company founded by one of the pioneers of Indian IT, Mr. Ashok Soota on April 5, 2011. It’s interesting to see the founder’s love for the word “Mind” which appeared in his earlier company “Mind”. Prior to founding Happiest Minds Technologies, Soota was the President at WIPRO technologies. He quit WIPRO to found MindTree Technologies along with other industry veterans like Subroto Bagchi (Read our Small Talk). Soota has made it clear that he did not sign a “non-compete” agreement with MindTree Consulting. It would be interesting to see how the two ‘minds’ compete in the already overcrowded Indian IT Services without clashes. It’s an established fact that customer care is at the core of any business and apparently Soota’s new venture takes it very seriously. The objective of the company is simple – create happiest customers and happiest employees. The company boasts the following on their front page – Mission: Happiest People. Happiest Customers. Vision: To be the fastest IT services firm from India to achieve US$100 million in revenue. The company is gearing up to commence operations within next 5 months. Ashok Soota informed the press that the company will focus on clients that work on emerging technologies like cloud computing, social CRM (Customer Relationship Management), Mobile Technologies, Unified Communications, Business Analytics and Intelligence. Soota is planning to divest his 11% stake in MindTree Consulting valued at about Rs. 1600 billion. The company will have marketing offices in Mumbai, Delhi & Bangalore. Soota is already in talks with IT leaders in various domains to hire them and run Happiest Minds. The company will focus on serving Indian companies and plans to have 10-12% business from Indian clients. Our Opinion: Ashok Soota has been playing the IT services game for decades and has experience in building and growing companies from scratch to multi-million/billion dollar business. We’d have been happier if he had ventured into a IT-products (not outsourced ones, please) company and used his skills in delivering what the Indian IT Industry seriously lacks. The name he chose for his new venture is interesting and is sure to generate curiosity among the potential customers and also land some good deals for the company. It would however be a great challenge for Soota to actually develop a “Happy Culture” inside the company given how stressful life in IT companies is. We also wish to know why Mr. Soota thought of creating a new company instead of creating the same culture in his past company – MindTree. Oh well, may we expect responses from MindTree employees?ies from scratch to multi-million/billion dollar business. We’d have been happier if he had ventured into a IT-products (not outsourced ones, please) company and used his skills in delivering what the Indian IT Industry seriously lacks. The name he chose for his new venture is interesting and is sure to generate curiosity among the potential customers and also land some good deals for the company. It would however be a great challenge for Soota to actually develop a “Happy Culture” inside the company given how stressful life in IT companies is. We also wish to know why Mr. Soota thought of creating a new company instead of creating the same culture in his past company – MindTree. Oh well, may we expect responses from MindTree employees?

Happiest Minds Technologies Private Limited


Former MindTree Chairman Ashok Soota today announced the establishment of his new business company, ‘Happiest Minds Technologies Private Limited’.

Ashoka, who left the company he co-founded on April 1, told the media that he envisioned Happiest Minds achieving US 100 million dollars worth of sales within five fiscal years of operations and to be a full services firm with a global presence.

Happiest Minds, expected to be formally launched for customer delivery in five months, would have six lines of businesses, namely IT services, R&D services, product engineering services, remote infrastructure management, testing and consulting.

“Happiest Minds will focus on new emerging technologies like cloud, social CRM, unified communications, mobility, business intelligence and analytics,” he said.

Soota said he was in touch with two venture capitalists to fund the business, but had sufficient funds for the next three months to fund it himself.

Soota on Tuesday reiterated that he doesn’t have a non-compete or non-solicit agreement with MindTree.

He also expects to soon partially divest his 11.1 per cent stake in MindTree, valued at Rs 1,600 crore. “There was no burning need to divest stake in MindTree right now. I will divest my stake in due course.”

He also said the funding would perhaps be higher than any typical startup in the IT services space.

“Happiest Minds expects to rapidly etablish itself as a global player. It will open offices in various cities of the US, Continental Europe, UK, Japan, Singapore and India.”

The new company will have marketing offices in Delhi and Mumbai, apart from Bangalore. A Chennai-based marketing agency had been roped to work out the modalities, he said.

Asked if he was in talks with any Mind Tree co-founder or senior management from Wipro, where he worked as CEO, he said, “I am not in conversation with anyone.”

The process of team building begins from today,” he said, adding he expects all those interested in being part of the team to reach him following the announcement.

Being a late entrepreneur, he said he expects to bring his vast experience and expertise to the table.

Refusing to draw parallels between MindTree and his venture or on the reasons leading to his exit, he said the word ‘Mind’ in his former company and new venture was coincidental. ‘Our bid is to create a niche company and such a company should have multiple service lines. Any other comparison is, I think, only coincidental,” he said.

Soota said he plans to list his new venture in due course.

He said his company would be looking at large corporations and medium and small enterprises. “India will be an important market and we expect 10 per cent to 12 per cent of business from within the country. But I feel US will bring us majority of revenue,” he said.

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