LTIMindtree vs NEC: Founders, CEOs and History
LTIMindtree was founded in 1996 by Larsen & Toubro, Subroto Bagchi and is led by Venu Lambu. NEC was founded in 1899 by Kunihiko Iwadare and is led by Takayuki Morita.
Company facts
LTIMindtree
- Founded
- 1996
- Headquarters
- Mumbai, Maharashtra & Bengaluru, Karnataka, India
- Current CEO
- Venu Lambu
- Employees
- 87,886
NEC
- Founded
- 1899
- Headquarters
- Minato, Tokyo, Japan
- Current CEO
- Takayuki Morita
- Employees
- 101,800
Founders
LTIMindtree
Larsen & Toubro
Larsen & Toubro, the Mumbai-based engineering and construction group founded in 1938 by Danish engineers Henning Holck-Larsen and Søren Kristian Toubro, set up L&T Information Technology in 1996.
Subroto Bagchi
Subroto Bagchi was one of the ten people who founded Mindtree in Bengaluru in 1999. The others included Ashok Soota and Krishnakumar Natarajan. Bagchi had worked at Wipro and Lucent and later served as Mindtree's COO and vice chairman.
NEC
Kunihiko Iwadare
Kunihiko Iwadare founded NEC (Nippon Electric Company) in 1899. After working for Thomas Edison in New York, he returned to Japan and formed a highly strategic joint venture with Western Electric, creating Japan's very first joint venture with foreign capital.…
CEOs and their tenures
LTIMindtree
- Sanjay Jalona2015–2022
Chief Executive Officer and Managing Director, LTI
LTI revenue passed $2 billion under him. He resigned in November 2022 when LTI merged with Mindtree.
Source - Debashis Chatterjee2019–2025
Chief Executive Officer & Managing Director
As the CEO of the merged entity, he is tasked with pushing LTIMindtree into the highly elite 'Tier 1' status of Indian IT, aggressively competing directly against TCS and Infosys.
Source - Venu Lambu2025–present
Chief Executive Officer and Managing Director
Serving as Executive Director and President, he aggressively drove the combined company's expansion in Europe and the Americas before departing in 2023.
Source
NEC
- Koji Kobayashi1964–1988
Former CEO and Chairman
Kobayashi's C&C concept became closely associated with his name across the global electronics industry and guided NEC's investment into semiconductors and mainframe computing, helping make NEC one of the world's largest chipmakers and computer manufacturers du…
Source - Nobuhiro Endo2010–2016
President
He refocused NEC on infrastructure for business and government. Takashi Niino succeeded him in 2016.
Source - Takayuki Morita2021–present
President and Chief Executive Officer
His tenure has focused on repositioning NEC away from its historical dependence on domestic telecom-equipment and PC hardware sales toward recurring software, cybersecurity, and biometric-identification revenue, an area where NEC has long-standing technology b…
Source
Timeline: LTIMindtree and NEC side by side
1899NEC
Nippon Electric Company Founded
Kunihiko Iwadare, the Japanese sales agent for Western Electric, and W.T. Carleton, head of Western Electric's Tokyo branch, establish NEC on July 17, 1899, making it one of the first Japanese companies built on direct ties to an American electrical manufactur…
1958NEC
Computer Expansion
NEC expands from communications equipment into computers and enterprise technology.
1982NEC
C&C Strategy
NEC promotes the integration of computers and communications as a strategic identity.
1994NEC
Acquired Packard Bell
NEC acquired Packard Bell. NEC acquired Packard Bell in 1994.
1996LTIMindtree
L&T sets up its IT services unit
L&T Information Technology, later Larsen & Toubro Infotech (LTI), is established in Mumbai.
1999LTIMindtree
Mindtree founded in Bengaluru
Ten IT veterans including Ashok Soota, Subroto Bagchi and Krishnakumar Natarajan found Mindtree.
2002NEC
NEC Electronics Spun Off
NEC spun off its semiconductor business as NEC Electronics in 2002.
2010NEC
Renesas Electronics Formed
NEC Electronics merged with Renesas Technology in April 2010 to form Renesas Electronics.
2011NEC
PC Joint Venture with Lenovo
NEC restructures its PC business through a joint venture with Lenovo.
2016LTIMindtree
LTI lists on NSE and BSE
L&T Infotech completes its IPO in India.
2018NEC
Acquired Northgate Public Services
NEC acquired Northgate Public Services for $645 million. NEC acquired UK-based Northgate Public Services from private-equity owner Cinven for about 475 million (roughly $645 million) to expand its digital-government software business into the British public se…
2019LTIMindtree
L&T takes control of Mindtree
L&T buys V.G. Siddhartha's stake and makes an open offer, gaining majority control despite founder opposition.
2020NEC
Avaloq Acquired
NEC bought the Swiss banking-software company Avaloq in December 2020.
2021NEC
Takayuki Morita Becomes President and CEO
Takayuki Morita, previously CFO, becomes NEC president and CEO on April 1, 2021.
2022LTIMindtree
LTI and Mindtree merge into LTIMindtree
The all-share merger completes on November 14, 2022, with 73 LTI shares issued for every 100 Mindtree shares.
2024NEC
BluStellar Strategy Launched
NEC introduces BluStellar, a value-creation model applying AI -- including a partnership integrating Anthropic's Claude -- across its IT Services and Social Infrastructure businesses.
2025LTIMindtree
Venu Lambu becomes CEO
Former Randstad Digital CEO Venu Lambu succeeds Debashis Chatterjee on May 31, 2025.
2026LTIMindtree
Rebrands as LTM and agrees Randstad Digital deal
Renamed LTM Limited (NSE symbol LTM from April 17, 2026); agrees in May to buy Randstad Digital units in Europe and Australia for ~$181 million (€160 million).
2026NEC
FY26/3 Revenue Reaches ~$24 billion (3.5827 Trillion Yen)
NEC reports higher revenue and record profit margins, with IT Services and Social Infrastructure as the key businesses.
Acquisitions
LTIMindtree
- Randstad Digital technology & consulting businesses (France, Germany, Belgium, Luxembourg, Australia)2026$186M
- Mindtree Limited (merged into LTI)2022Undisclosed
- Cuelogic (by LTI)2021Undisclosed
- Powerupcloud (by LTI)2019Undisclosed
- Magnet 360 (by Mindtree)2016Undisclosed
NEC
- Avaloq2021$2.2B
- Northgate Public Services2018$645M
- Packard Bell1994Undisclosed
- Electronic Arrays1978Undisclosed
Questions about LTIMindtree vs NEC
Who is the CEO of LTM (formerly LTIMindtree) and NEC Corporation?
LTM (formerly LTIMindtree) is led by Venu Lambu and NEC Corporation is led by Takayuki Morita. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was LTM (formerly LTIMindtree) founded vs NEC Corporation?
NEC Corporation was founded in 1899 — 97 years before LTM (formerly LTIMindtree), which was founded in 1996. NEC Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger LTM (formerly LTIMindtree).
How many employees does LTM (formerly LTIMindtree) have compared to NEC Corporation?
LTM (formerly LTIMindtree) employs approximately 87,886 people, while NEC Corporation employs approximately 101,800. NEC Corporation has the larger workforce at 101,800 employees, compared to LTM (formerly LTIMindtree)'s 87,886. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are LTM (formerly LTIMindtree) and NEC Corporation headquartered?
LTM (formerly LTIMindtree) is headquartered in India and NEC Corporation is headquartered in Japan. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded LTM (formerly LTIMindtree) and NEC Corporation?
LTM (formerly LTIMindtree) was founded by Larsen & Toubro, Subroto Bagchi. NEC Corporation was founded by Kunihiko Iwadare.
Which company has a longer operating history — LTM (formerly LTIMindtree) or NEC Corporation?
NEC Corporation has been operating for approximately 127 years, making it the more established of the two companies. LTM (formerly LTIMindtree) has been in operation for around 30 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the LTIMindtree vs NEC overview