<article>Information technology firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=mindtree" target="_blank">Mindtree</a> said today that it is buying <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Salesforce" target="_blank">Salesforce</a> platinum consulting partner <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Magnet+360" target="_blank">Magnet 360</a> in an all-cash deal worth $50 million.</article>

Information technology firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=mindtree" target="_blank">Mindtree</a> said today that it is buying <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Salesforce" target="_blank">Salesforce</a> platinum consulting partner <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Magnet+360" target="_blank">Magnet 360</a> in an all-cash deal worth $50 million.
The deal is expected to close in the next two months. About 150 of Minneapolis-based Magnet 360 employees will join Mindtree as part of that, including 100 certified Salesforce experts.
&#8220;Magnet 360 brings strong expertise across Salesforce sales, service and marketing cloud implementations. Combined with our Salesforce practice, this acquisition positions us for leadership in the fast-growing cloud-based services market,&#8221; said Mindtree CEO and managing director Krishnakumar Natarajan in a statement.
Magnet 360 operates only in the US, and has offices in New York, Los Angeles and Chicago. It was founded in 2008, and provides multi-clouded solutions, consulting services and implementation to clients in sectors such as manufacturing, finance and media &amp; entertainment.
The company had revenue of $25 million in the last financial year, and is growing at 20-25 per cent. Investors in Magnet 360 include Salesforce Ventures, StarTec Investments and Gage Group.
Before this deal, Mindtree acquired Discoverture Solutions, UK-based Bluefin Solutions and Relational Solutions in 2015.
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Information technology firm Mindtree said today that it is buying Salesforce platinum consulting partner Magnet 360 in an all-cash deal worth $50 million.

India: Mindtree to buy US-based Salesforce consultant Magnet 360 for $50m

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India: Mindtree to buy US-based Salesforce consultant Magnet 360 for $50m

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