Mphasis Limited, a leading global provider of information technology services, with a sharp focus on cloud and cognitive technology solutions, has been named a ‘Contender’ in the Q1 2025 edition of The Forrester Wave™: Application Modernization And Multicloud Managed Services report. This evaluation, conducted by renowned global research and advisory firm Forrester Research, Inc., reflects Mphasis' strategic capabilities and specialized delivery strength in legacy system modernization and multi-cloud management.

The announcement was formally disclosed by Mphasis to the BSE and NSE on June 18, 2025, as part of a regulatory intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The press release is also available on the official Mphasis website.

Key Recognition by Forrester

The Forrester Wave report, widely regarded as an authoritative benchmark in the IT services industry, evaluated 15 major service providers based on their current offerings and strategic vision. Mphasis has been positioned as a Contender, recognizing its deep capabilities in servicing transaction-intensive industries such as banking, financial services, and airlines.

According to the report, Mphasis stands out for:

• Extensive experience in legacy technologies, including IBM mainframe environments.

• Ability to deliver high-performance modernization solutions tailored for industries with complex backend systems.

• Proven track record in multi-cloud integration, helping clients migrate workloads across platforms with security, agility, and scalability.

This distinction highlights the company’s commitment to supporting enterprise customers in their digital transformation journeys, while managing the challenges of legacy system constraints.

Statement from Mphasis Leadership

Srikumar Ramanathan, Chief Solutions Officer at Mphasis, remarked:

“We believe this recognition by Forrester highlights our dedication to driving transformation through specialized modernization solutions. Clients value our deep domain expertise in modernizing legacy systems and integrating multi-cloud capabilities. This acknowledgement reinforces our commitment to helping enterprises optimize operations, scale efficiently, and achieve sustainable growth in a rapidly evolving digital landscape.”

This perspective underlines Mphasis’ positioning as not just a service provider, but a strategic transformation partner to enterprise clients worldwide.

Mphasis’ Competitive Edge

Mphasis differentiates itself through its Front2Back™ Transformation model, which uses cloud-native, AI-driven, and hyper-personalized digital solutions. The company’s purpose of being the “Driver in Driverless Car” reflects its goal to embed intelligence and autonomy into enterprise architectures.

Key pillars of Mphasis’ transformation framework include:

• Shrink the Core™: Reducing technical debt by optimizing legacy ecosystems.

• C=X2C2™=1 Framework: Delivering contextual and personalized customer experiences.

• Integrated sustainability approach: Embedding environmental and social governance across operations and client solutions.

The company’s proprietary tools, rapid development accelerators, and domain-centric delivery have helped it forge deep relationships with marquee global clients in financial services, logistics, and telecom sectors.

Broader Industry Context

The application modernization and multi-cloud services market is one of the fastest growing segments in enterprise IT. With enterprises increasingly adopting cloud-first strategies, they face the dual challenge of:

• Transitioning from legacy systems without disrupting operations.

• Integrating complex multi-cloud environments that deliver flexibility and compliance.

The Forrester evaluation is designed to assist organizations in identifying service providers who can deliver on this dual mandate. Mphasis’ inclusion reaffirms its relevance in this highly dynamic and strategic service area.

Forrester’s Objectivity Note

As part of its standard disclaimer, Forrester Research emphasized that it does not endorse or promote any specific vendor included in the report. The results are based on available data, independent analyst assessments, and are subject to periodic revision.

Regulatory Compliance and Market Disclosure

The press release was filed by Mayank Verma, Senior Vice President and Company Secretary of Mphasis Limited, fulfilling its obligation under Regulation 30 of SEBI (LODR) Regulations, 2015. This transparent communication reflects the company’s adherence to governance norms and investor relations best practices.

Mphasis is listed on both BSE (Scrip Code: 526299) and NSE (Symbol: MPHASIS) and is considered one of the bellwether stocks in India’s IT services sector.

About Mphasis

Founded with a vision to lead the next-generation enterprise transformation movement, Mphasis blends deep industry knowledge, AI-first design, and platform-based delivery. The company is headquartered in Bengaluru, and operates across North America, Europe, and APAC, serving over 120 global clients, including several Fortune 500 companies.

Mphasis continues to invest in:

• Cloud transformation partnerships with AWS, Azure, and Google Cloud.

• Talent development programs for mainframe, Java, cloud-native, and DevOps capabilities.

• Sustainability goals through tech-led operational efficiencies.

Its holistic delivery framework aligns technology outcomes with client business KPIs, resulting in value-centric engagements that deliver measurable impact.

Mphasis’ recognition as a Contender in the Q1 2025 Forrester Wave report is not just a validation of its current capabilities but also a powerful endorsement of its future-readiness. As enterprises reimagine operations for the cloud era, Mphasis is poised to lead the way through innovation, agility, and domain excellence.

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