“Our expertise in Salesforce, combined with Mindtree’s strategic relationships with Global 2000 companies, will position us among the leading consulting, implementation and integration partners for Salesforce programs. We are very excited about becoming a key part of Mindtree’s future growth.”
The Economic Times, the deal is worth “$50 million, which includes an upfront payment of $37 million and earnouts, and additional payments of $13 million over the next two years.” This acquisition positions the company in addressing and leading the fast-growing cloud-based services market. Magnet 360 brings more than 100 Salesforce experts to Mindtree. The former has been a Salesforce partner since 2004. It works with companies across the full suite of Salesforce solutions such as CRM, branded sites and communities, social campaign strategy and management, and marketing automation. “We are now seeing clients starting to invest heavily in digital transformation programs beyond just building the customer experience layer,” said Krishnakumar Natarajan, CEO and MD, Mindtree. “This acquisition will strengthen our offerings in digitizing the value chain and building sense-and-respond systems,” he added. Matt Meents, CEO, Magnet 360, said:
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