Minneapolis’ Magnet 360 Acquired For $50 Million By India-Based Mindtree



Via News Release

“Bangalore (India) and Warren (NJ) – January 18, 2016 – Mindtree today announced that it has signed a definitive agreement to acquire Magnet 360, a Salesforce Platinum consulting partner.   Magnet 360 brings strong expertise across Salesforce Sales, Service and Marketing Cloud implementations. Combined with Mindtree’s established Salesforce practice, this acquisition positions the company for leadership in addressing the fast-growing cloud-based services market.”

With the acquisition of Magnet 360, Mindtree adds more than 100 certified Salesforce experts. This strengthens Mindtree’s ongoing focus on delivering customer success by helping clients digitize their entire back-end value chains.

“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.”Headquartered in Minneapolis with offices in New York, Los Angeles and Chicago, Magnet 360 has been a Salesforce partner since 2004. Magnet 360 works with some of the world’s largest companies across the full suite of Salesforce solutions such as CRM, branded sites and communities, social campaign strategy and management, and marketing automation. Salesforce Ventures has invested in Magnet 360 along with StarTec Investments and Gage Group. “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,” said Matt Meents, CEO, Magnet 360. “We are very excited about becoming a key part of Mindtree’s future growth.”

“The combination of Magnet 360 and Mindtree is exciting for our ecosystem and demonstrates strong momentum around our Customer Success Platform,” said Don Lynch, SVP, worldwide strategic alliances. “This move highlights how our world-class platform is helping ecosystem partners deliver phenomenal levels of transformation and success for our customers.”

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About Mindtree

Mindtree [NSE: MINDTREE] delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. “Born digital,” Mindtree takes an agile, collaborative approach to creating customized solutions across the digital value chain. At the same time, our deep expertise in infrastructure and applications management helps optimize your IT into a strategic asset. Whether you need to differentiate your company, reinvent business functions or accelerate revenue growth, we can get you there. Visit www.mindtree.com to learn more.