Fast-growing Chandler tech company acquired by India-based Mastek
Looking to expand its United States footprint, Mumbai, India-based Mastek has acquired Chandler-based MST Solutions.
MST, a Salesforce software consultant that works with clients in the health care, public sector, education nonprofit and manufacturing industries, has been a fast-growing company in the Valley since it was founded in 2012. The firm has been on the Inc. 5000 fastest-growing companies in the nation list in 2020 and 2021, showing a 104% growth rate over a three-year span.
MST’s Chandler office is at Portico Place, which is located at 2195 W. Chandler Blvd in Suite 160. The company also has two offices in India, according to its website.
“We’re thrilled to join the Mastek family. We share a strong cultural alignment and a deep commitment to the growth and experience of our colleagues. Partnering with Mastek is the right choice for us to expand into a global market with a continued focus on delivering outcomes for our customers,” Thiru Thangarathinam, MST’s founder and CEO, said in a statement. By combining our decade of experience in the Salesforce ecosystem across multiple clouds with Mastek’s global scale, we’ll be able to deliver value across a wide range of integrated service offerings.
Terms of the acquisition weren’t immediately known as of Tuesday afternoon.
MST had 101 employees as of September 2021. In an email, Brandt Bogdanovich, vice president of marketing for MST, said Mastek’s acquisition of MST will expand its footprint in the United States. It will invest in hiring top talent for its workforce in Chandler, Bogdanovich said.
In an announcement, MST said Mastek’s acquisition allows the Chandler-based company to open doors to a global market and strengthen its customer experience.
Technology firm Mastek was founded in 1982, according to its website. It calls itself a “turnkey digital engineering and cloud transformation” company. It worked with clients such as Oracle, Microsoft, UiPath, Salesforce among others. The company has North America offices in Dallas, Chicago and Ontario, Canada. Overseas, Mastek is in Asia, Europe, Australia and the Middle East.
“Mastek’s business outcomes and industry-first DNA paired with MST’s salesforce-led innovation capabilities, will only strengthen the value we will deliver to our customers and help them in their journey to decomplex digital. This acquisition is expected to significantly increase our market share in existing accounts across industries in the Americas and provide a foundation to scale our digital transformation business globally,” Hiral Chandrana, Global CEO of Mastek, said in a statement.
Last September, Thangarathinam shared that a company goal MST had in the next five years was to become an $80 million revenue organization. He wanted to accomplish that through achieving a 25% year-over-year revenue growth; expanding its presence in three locations across the United States; achieving a nine out of 10 employee satisfaction rate; and giving back 20,000 a year in community service across its offices.