Software services firm Mindtree Ltd has opened a new IT services delivery centre in Atlanta, US. The on-shore centre will provide Mindtree with a local presence near its clients and partners, the company said in a statement.
The Bengaluru-based IT firm said that the centre is its third major office in the US this year, following recent expansions in both Silicon Valley and Minneapolis. It added that the centre will also help the company to further leverage the expertise of technical experts in the region’s workforce.
Indian IT companies have been hiring more staff at on-site locations in the US because of mounting challenges in getting H-1B visas. This has hurt the IT companies' operating margin by up to 0.8%, according to a Crisil report.
“Atlanta's talent and infrastructure further allow us to maximise our value and responsiveness to our clients,” said Paul Gottsegen, chief marketing officer and head of Mindtree Americas.
Meanwhile, Mumbai-based engineering major Larsen and Toubro has picked up another 0.2% stake in Mindtree, taking its overall stake in the company to 28.81%. L&T has been buying Mindtree shares from the open market since the beginning of this month after completing the buyout of Café Coffee Day founder VG Siddhartha's stake in the company.
L&T's open offer is expected to begin next week. The process, which was supposed to begin in the middle of this month, has been delayed due to a few queries posed by capital markets regulator SEBI.