After going through a series of mergers and acquisitions, Mindteck, a Bangalore-headquartered IT services company, is looking to consolidate its various businesses which will see more work being moved offshore, to locations in India.

The company has changed its sales model by moving 70 per cent of the outsourcing works to India, which was earlier being delivered in the US.

"Our sales model has changed a lot. Now, wherever we go, we try to sell 70 per cent offsore and 30 per cent onshore. So the same team which was earlier managing 10 projects in the US is now managing 20-30 projects because a lot more work is coming to India," Pankaj Agarwal, group CEO & MD, Mindteck (India), told Business Standard.

Mindteck was formed in 1999 by a group of investors from Europe, the US and West Asia. Other than Mindteck, these promoters had also invested in four other companies - Primetech Solutions, Infotech Consulting, Mindteck UK and Mindteck Singapore.

Because all these companies had common promoters and similar service offerings, in February 2007 Mindteck acquired Infotech Consulting. Then in April this year, the other three companies also merged with Mindteck to form Mindteck Inc. Post-mergers, the promoters hold close to 65 per cent in Mindteck.

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