Mindtree partners with real estate services firm Realogy for digital transformation

Bengaluru-based information technology (IT) services firm Mindtree has signed a five-year deal with US real estate services firm Realogy to help the latter with digital transformation.

The deal will help Realogy expand its digital innovations to leverage Mindtree's digital technologies, data and domain expertise, the company said in a statement. The companies did not disclose the size of the deal.  

According to Mindtree, it will introduce digital technologies in areas such as application development, managed services, infrastructure support and testing services for Realogy.

Madison, New Jersey-headquartered Realogy Holdings is one of the largest full-service residential real estate services companies in the US. It provides integrated brokerage, franchising, mortgage, title and settlement services to thousands of independent sales agents.

“With technology offerings being an increasingly important differentiator for real estate services companies, we will assist Realogy in its next phase of platform development. We look forward to helping Realogy achieve its business objectives and help better equip Realogy’s affiliated real estate brokers and their independent real estate agents with tools to enable them to maximise their productivity,” SN Subrahmanyan, vice chairman, Mindtree, said.

Subrahmanyan is also the CEO and managing director of the engineering conglomerate L&T, which completed a hostile takeover of Mindtree in 2019, which saw the latter's founder promoters leaving the company.

Mindtree said that it will leverage Digital Pumpkin, an interactive space where multi-disciplinary teams can ideate and create meaningful digital business solutions, to support business innovation ideas that will help drive significant operational and application cost savings for Realogy.

The L&T group firm is a strong player in the digital domain with the segment propelling the company to a strong showing in the December quarter.

“The relationship will more broadly leverage Mindtree’s leadership, talent, experience and best-in-class support for our products,” Dave Gordon, chief technology officer, Realogy, said.

Last week, Mindtree appointed former Accenture executive Dayapatra Nevatia as its chief operations officer, eight months after Parthasarathy NS, one of the company’s founders who left after the takeover, vacated the post.

The IT services industry has been reeling under pressure from the twin crisis of Coronavirus and a slowing technology spending by the financial sector and retail customers.