Mindtree Names New CEO, Acquires Salesforce Partner Magnet 360

Mindtree announced on Monday that it has signed a definitive agreement to acquire Salesforce Platinum consulting partner Magnet 360. The terms of the deal have not been disclosed.

The acquisition of Minneapolis-based Magnet 360 will boost Mindtree’s Salesforce practice, adding more than 100 certified Salesforce experts. The company offers the full suite of Salesforce solutions.

“We are now seeing clients starting to invest heavily in digital transformation programs beyond just building the customer experience layer,” Mindtree CEO and managing director Krisnakumar Natarajan said in a statement. “This acquisition will strengthen our offerings in digitizing the value chain and building sense-and-respond systems.”

Natarajan will transition to executive chairman in April as Subroto Bagchi has stepped down as executive chairman. Bagchi will continue on the board as a non-executive director. The board named Rostow Ravanan CEO and managing director, effective Apr. 1.

Magnet 360 has been a Salesforce partner since 2004 and has offices in New York, Los Angeles and Chicago. Salesforce Ventures has invested in Magnet 360 along with StarTec Investments and Gage Group, according to the announcement.

“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,” Magnet 360 CEO Matt Meents said. “We are very excited about becoming a key part of Mindtree’s future growth.”