Overview
Mphasis Limited is an Indian information technology services and consulting company headquartered in Bengaluru, Karnataka. The firm provides application development and maintenance, infrastructure services, business process outsourcing, and consulting to clients across the banking and financial services, insurance, communications, and logistics sectors. Mphasis is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
Key facts
| Type | Public company |
|---|---|
| Industry | Information technology services, consulting |
| Headquarters | Bengaluru, Karnataka, India |
| Country | India |
| Listings | BSE, NSE |
| Predecessors | Mphasis Corporation; BFL Software Limited |
Background
Mphasis was formed through the merger of Mphasis Corporation, a US-based IT solutions firm, with BFL Software Limited, an Indian software services company based in Bangalore. The combined entity, initially known as Mphasis BFL, offered a delivery model that paired onshore consulting with offshore engineering services from India.
In 2006, the Electronic Data Systems Corporation (EDS) acquired a controlling stake in Mphasis. When Hewlett-Packard (HP) acquired EDS in 2008, Mphasis became part of the HP group and continued to operate as a publicly listed subsidiary in India, serving HP's enterprise customers alongside its independent client base.
In 2016, the private equity firm Blackstone agreed to acquire the controlling stake held by HP/Hewlett Packard Enterprise in Mphasis, completing the transaction in 2017. Blackstone subsequently became the principal promoter shareholder of the company.
Operations
Mphasis organises its work around what it describes as a "Front2Back" transformation approach, combining cloud, cognitive and digital services. Its principal verticals include:
- Banking and capital markets
- Insurance
- Logistics and transportation
- Communications, media and entertainment
- Healthcare and life sciences
The company operates delivery centres in several Indian cities, including Bengaluru, Pune, Chennai, Hyderabad, Mumbai and Noida, and maintains offices across North America, Europe, the Asia-Pacific region and the Middle East.
Subsidiaries and acquisitions
Over the years, Mphasis has expanded through acquisitions in areas such as digital risk, mortgage services and software engineering. Notable subsidiaries have included Digital Risk LLC, a US-based risk and compliance services firm acquired in 2013, which strengthened Mphasis's footprint in the American mortgage and financial services market.
Significance
Mphasis is among the mid-tier Indian IT services exporters and is frequently grouped with peers such as Mindtree, Hexaware Technologies, L&T Technology Services and Persistent Systems. Its long association with HP and later Blackstone has made it a frequently cited example of large-scale ownership transitions in the Indian IT industry, including the role of global private equity in the sector.
Related topics
- Information technology in India
- Bengaluru
- Blackstone Group
- Hewlett-Packard
- Electronic Data Systems
- NASSCOM
References
- Wikidata entry: Q3764687
- Mphasis Limited, annual disclosures filed with the BSE and NSE