Zensar Technologies Ltd
Company typePublic
IndustryIT services
PredecessorInternational Computers Limited India
Founded1991; 33 years ago (1991)[1]
HeadquartersPune, India
Key people
Manish Tandon (CEO and MD)
ServicesDigital supply chain, artificial intelligence, cloud infrastructure, data management, enterprise applications
RevenueIncreaseUS$569.4 million (March'22)[2]
Number of employees
11000+ (2022)
ParentRPG Group
Websitewww.zensar.com

Zensar Technologies Limited is an Indian publicly traded software and services company.[3] The company's stock trades on the Bombay Stock Exchange and on the National Stock Exchange of India.[4] A subsidiary of RPG Group, the company's chairman is Harsh Goenka.[5]

History

Zensar traces its origin to 1922 when a British original-equipment manufacturing firm established a regional manufacturing unit in Pune, India. The firm evolved to become the Indian manufacturing arm of British computer maker ICL, and was renamed ICIM (International Computers Indian Manufacture). In 1963, ICIM listed on the Bombay Stock Exchange. In 1991, ICIM established a subsidiary company named International Computers Limited (ICIL), with a focus on software. In 1999, the original hardware division of ICIM was shuttered, leaving ICIM/ICIL as a purely software company.

In February 2000, the company renamed to Zensar.[1] Ganesh Natarajan became CEO in 2001, beginning a 15-year tenure.[6] From 2000 to 2005, the company focused on application management for its clients.[7] RPG Group, the Indian industrial conglomerate headquartered in Mumbai, Maharashtra, is the majority shareholder in the company. The company continues to have its headquarters in Pune in Western India.

By 2012, Zensar had approximately 11000 employees servicing 400 clients in over 20 global locations[8] and at the end of the 2019 financial year earned revenues of over US$550 million.[2][9]

Sandeep Kishore was named Zensar's CEO in 2016, taking over from Ganesh Natarajan,[10][6] with Zensar Technology backers being RPG Enterprises. In 2015, APAX Portfolio Company acquired a stake in Zensar from Electra Partners Mauritius.[9][5]

As of October 2018, Zensar Technologies has offices in over 20 countries.[11] It is listed on both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) and is a component of several indices including the NSE's Nifty 500 and the S&P BSE 500.[12] In December 2020, Ajay S. Bhutoria was named Zensar's CEO.[3]

Zensar's business is spread between North America, United Kingdom, parts of Europe and South Africa.[13] Zensar's teams work out of 33 global locations, including offices of acquired entities.

In April 2023, its South African subsidiary marked the 1000th internship of young locals as part of the initiative launched in 2008 to prepare youth for the IT-sector.[14]

Acquisitions

The following is a list of acquisitions made by Zensar since 2005.

Ventures
Venture Date Company Value Location base Capabilities added
Acquisition 2021 M3bi N/A US Capabilities strengthened in Data Engineering and Advanced Analytics, Advanced Engineering and Experience Services.  Strengthens BFSI and other verticals [15]
Acquisition 2018 Cynosure INC US$33m US Guidewire capabilities. Entry into Property and Casualty Insurance sector. Core system modernization [16]
Acquisition 2007 ThoughtDigital US$24.9m US [17]
Joint Venture 2013 EZA N/A Tokyo Formed Zensar Advanced Technologies[18][19]
Acquisition 2005 OBT global N/A Hyderabad [20]
Acquisition 2010 Akibia Inc US$100m Westborough, Massachusetts [21][22][23]
Acquisition 2014 Professional Access Inc N/A New York [24]
Acquisition 2016 Foolproof, Inc. N/A London User Interface, User Experience Strategy & Planning

Design and create digital products for customers.[25]

Acquisition 2017 Keystone Logic N/A US Omnichannel retail order and warehouse management[26][27] Digital Supply Chain, Direct to Consumer fulfilment – Order Management, Warehouse Management expertise. Supply Chain Competency – Implement, Engineer, Optimize, Support
Acquisition 2018 Indigo Slate US$18m US Digital marketing services. CX, UX, Design & Content Development capabilities. High-quality digital studio and local CX/UX presence in the US [28]

Locations

Zensar has offices in 33 global locations.[29]

List of subsidiaries
Name Location
Zensar Technologies UK Ltd. United Kingdom
Zensar Technologies B.V. Geneva
Zensar Technologies B.V. The Netherlands
Zensar Technologies Keizersgracht The Netherlands
Zensar Technologies Herriotstraße Frankfurt, Germany
Zensar Technologies Regus Business Centre GmbH Austria
Zensar Technologies, Inc. United States of America
Zensar (Africa) Holdings (Pty) Ltd. Johannesburg

Awards and recognition

Zensar was the innovation award winner in the "Creating an Impact-IT Skills" category at India Perspectives 2018. Gartner Magic Quadrant named the company Niche Player 2019 for managed mobility services.[30] The company is often quoted by analysts in industry media for its expertise on enterprise IT spending, research consulting and advisory services.[31]

The company won the 2021 BIG Innovation Award for Technology.[32] The company also won at the 11th Annual Aegis Graham Bell Awards under the AI-Powered Innovation for Enterprise category.[33]

See also

References

  1. ^ a b Ganesh Natarajan; Prameela Kalive (26 January 2016). From Start-Up to Global Success: The Zensar Story. SAGE Publications. ISBN 978-93-5150-862-5.
  2. ^ a b "Zensar reports 27.4% YoY growth in PAT for FY21".
  3. ^ a b "Ajay Bhutoria to take over as Zensar CEO". Economic Times. 12 December 2020. Retrieved 25 January 2021.
  4. ^ "Zensar Technologies Stock". Bombay Stock Exchange. Retrieved 18 February 2020.
  5. ^ a b "Apax Partners-backed firm buys 23.2% in Harsh Goenka's Zensar Technologies". Business Today. 9 October 2015. Retrieved 20 March 2020.
  6. ^ a b "Alumni and Corporate Relations". Indian Institute of Technology Bombay. Dr. Ganesh Natarajan. Archived from the original on 13 October 2018. Retrieved 13 October 2013.
  7. ^ From Start-Up to Global Success: The Zensar Story. SAGE Publications India. 26 January 2016. ISBN 9789351508625. Retrieved 20 March 2020.
  8. ^ Bhide, Sachin Mohan (2012). "CHAPTER 6: Zensar Technologies Ltd. Case Study" (PDF). Study of change in composition and direction of exports by information technology companies in and around Pune (PhD). guide: Dr. M. R. Tambe. Savitribai Phule Pune University. Archived (PDF) from the original on 14 October 2018.
  9. ^ a b Datta, Aveek (27 March 2019). "Zensar Technologies: On the digital highway". Forbes India. Archived from the original on 20 March 2018.
  10. ^ Sanjai, P.R. (14 December 2015). "Zensar appoints HCL's Sandeep Kishore as CEO and MD". Livemint. HT Media Ltd. Archived from the original on 11 October 2018. Retrieved 11 October 2018.
  11. ^ "Zensar Technologies Ltd". NDTV Profit. Reports - History. Archived from the original on 14 October 2018. Retrieved 14 October 2018.
  12. ^ "ET Markets". The Economic Times. Zensar Technologies Ltd. Archived from the original on 13 October 2018.
  13. ^ Sangani, Priyanka (28 October 2019). "Zensar's financial services focus pays off in South Africa". Economic Times. Retrieved 20 March 2020.
  14. ^ "Zensar's Skills Development Program in South Africa reaches the milestone of its 1000th intern". EquityBulls. 19 April 2023. Retrieved 24 April 2023.
  15. ^ "Zensar acquires M3bi for $33 million". The Economic Times. Retrieved 3 June 2021.
  16. ^ "Zensar to acquire Cynosure for $33 mn". The Economic Times. 21 March 2018. Archived from the original on 9 May 2018. Retrieved 9 May 2018.
  17. ^ "Zensar buys Thoughtdigital". The Economic Times (IndiaTimes). 24 February 2007. Archived from the original on 10 February 2019. Retrieved 10 February 2019.
  18. ^ "Zensar Tech in JV with Tokyo firm". Business Standard, India. 5 February 2013. Archived from the original on 10 February 2019. Retrieved 10 February 2019.
  19. ^ "Director's report on Zensar Advanced technologies". Archived from the original on 30 November 2009. Retrieved 11 November 2009.
  20. ^ "Zensar Acquires OBT Global".
  21. ^ "Zensar Technologies acquires Akibia Inc". added acquisition. Archived from the original on 10 July 2011. Retrieved 24 November 2010.
  22. ^ "Zensar acquires US IT slotion firm Akibia for $66 million". The Economic Times. 23 November 2010. Retrieved 12 November 2019.
  23. ^ Pilon, Matt (18 June 2013). "Post-Acquisition, Akibia Is Fully Assimilated". EBJ. Retrieved 7 November 2019.
  24. ^ "Zensar Technologies Inc. acquires Professional Access Inc". Archived from the original on 4 March 2016. Retrieved 30 January 2016.
  25. ^ "Foolproof acquired by Zensar Technologies" (PDF). Archived from the original (PDF) on 4 November 2016. Retrieved 2 November 2016.
  26. ^ Pramanik, Ayan (31 March 2017). "Zensar Technologies to acquire Keystone Logic for Rs 132 cr". Business Standard India. Retrieved 31 January 2019.
  27. ^ "Keystone Logic acquired by Zensar Technologies". Archived from the original on 6 April 2017. Retrieved 4 April 2017.
  28. ^ "Zensar Acquires Indigo Slate, a US Based Digital Agency | Markets Insider". markets.businessinsider.com. Archived from the original on 4 September 2018. Retrieved 3 September 2018.
  29. ^ "Zensar - Think Velocity". www.zensar.com. Retrieved 27 August 2021.
  30. ^ "Zensar named Niche Player in 2019 Gartner Magic Quadrant for Managed Mobility Services, Global". Business Standard. 25 July 2019. Retrieved 20 March 2020.
  31. ^ "With 30% Earnings Growth, Did Zensar Technologies Limited Outperform The Industry?". Yahoo! News. 11 July 2019. Retrieved 27 March 2020.
  32. ^ "7 Executives, 52 Companies and 137 Products Win 2021 BIG Innovation Award". Business Intelligence Group. Retrieved 27 August 2021.
  33. ^ "Zensar wins at the 11th Annual Aegis Graham Bell Awards; stock gains 2%". www.indiainfoline.com. Retrieved 27 August 2021.

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