Why Mindtree matters to L&T?

A deal with L&T would create a $2.4-billion IT services firm with four verticals of reasonable scale — BFSI, retail, consumer packaged goods and manufacturing, and technology media and service. The combined entity also brings down client concentration significantly, with no client accounting for greater than 8.5% of revenues. Microsoft alone contributes around a quarter of Mindtree's billings. Arijit Barman has more. (Text: ET Bureau)