Mphasis eyes growth in US, Europe even as prime focus stays on India, China, Australia

Published: November 2, 2017 5:31 AM

IT services provider Mphasis will have a stronger focus on the US and European markets for growth in the next 12-24 months, even as it continues with the existing client relationships in Australia, China and India.

IT services provider Mphasis will have a stronger focus on the US and European markets for growth in the next 12-24 months, even as it continues with the existing client relationships in Australia, China and India. (Image: Reuters)

IT services provider Mphasis will have a stronger focus on the US and European markets for growth in the next 12-24 months, even as it continues with the existing client relationships in Australia, China and India. “Strategy is a set of choices one has to make. It is the strategy that leads a company to make choices about investment, building capabilities and also how do you develop and build assets. As part of our new strategy, our two primary markets will be the US and Europe. In Europe, the focus will be on markets like Germany, Switzerland and Benelux,” said Nitin Rakesh, CEO and director of Mphasis.

The move comes as part of the new strategy the company had adopted for growth after the majority of stake owned by HP was acquired by private equity (PE) major Blackstone in April last year in a deal valued at around Rs 7,000 crore. When asked whether the company will hire more people in the US, Rakesh said, “Our hiring plans or operating model have not changed. At present, we have more than 4,000 people in the US. Major portion of the delivery is happening out of India and it will continue.” The PE major had acquired about 60.5% stake in the company which had been held by Hewlett Packard Enterprise. Blackstone had also tried to increase its stake in the company through an open offer, which was not successful.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition