Mphasis began in 1981 as Multi-Tech Computer Services, a joint venture between Tata Sons and GE Capital. The company was founded by Ajit Narsale, Nitin Desai, and Subroto Bagchi, who were all engineers with experience in the IT industry.

The company's early focus was on providing IT services to the telecommunications industry. In 1984, Multi-Tech Computer Services was renamed Mphasis, which is a portmanteau of "Multi-Tech" and "phasis", a Greek word meaning "stage" or "phase".

In the early 1990s, Mphasis began to expand its services to other industries, such as banking, insurance, and manufacturing. The company also began to offer offshore development services, which allowed it to tap into the large pool of skilled IT professionals in India.

In 1994, Mphasis went public, listing its shares on the Bombay Stock Exchange. The company continued to grow rapidly in the following years, and by 2000, it had become one of the largest IT companies in India.

In 2004, Mphasis was acquired by Hewlett-Packard (HP). HP acquired Mphasis for its strong offshore development capabilities and its expertise in the telecommunications industry.

Mphasis continues to be a leading IT company in India. The company has over 20,000 employees and provides services to customers in over 50 countries. Mphasis is also a major player in the cloud computing and analytics markets.

Here are some of the key factors that contributed to Mphasis' success:

• Early focus on the telecommunications industry: Mphasis was one of the first Indian IT companies to focus on the telecommunications industry. This gave the company a head start in a rapidly growing market.
• Offshore development services: Mphasis was one of the first Indian IT companies to offer offshore development services. This allowed the company to tap into the large pool of skilled IT professionals in India.
• Acquisition by HP: The acquisition by HP gave Mphasis access to HP's global reach and resources. This helped Mphasis to grow its business and expand into new markets.
• Focus on innovation: Mphasis has always been a technology leader. The company has been at the forefront of new technologies, such as cloud computing and analytics. This has helped Mphasis to stay ahead of the competition.

Mphasis is a success story in the Indian IT industry. The company has grown from a small startup to a leading global IT company. Mphasis' success is a testament to the talent and dedication of its employees, as well as the company's focus on innovation.