You are here » Home » Companies » Company Overview » 8K Miles Software Services Ltd

8K Miles Software Services Ltd.

BSE: 512161 Sector: IT
NSE: 8KMILES ISIN Code: INE650K01021
BSE 00:00 | 19 Aug 59.60 1.95
(3.38%)
OPEN

59.50

HIGH

60.40

LOW

58.00

NSE 00:00 | 19 Aug 59.65 1.90
(3.29%)
OPEN

60.60

HIGH

60.60

LOW

57.70

OPEN 59.50
PREVIOUS CLOSE 57.65
VOLUME 15436
52-Week high 356.65
52-Week low 50.75
P/E 17.63
Mkt Cap.(Rs cr) 182
Buy Price 59.60
Buy Qty 1926.00
Sell Price 59.75
Sell Qty 7.00
OPEN 59.50
CLOSE 57.65
VOLUME 15436
52-Week high 356.65
52-Week low 50.75
P/E 17.63
Mkt Cap.(Rs cr) 182
Buy Price 59.60
Buy Qty 1926.00
Sell Price 59.75
Sell Qty 7.00

8K Miles Software Services Ltd. (8KMILES) - Company History

Founded in mid-2008 8K Miles Software Services Limited is a global Cloud & Security solutions provider and Next Generation Cloud MSP headquartered in the San Francisco Bay area and a publicly traded company listed on Indian Stock Exchanges (NSE and BSE). 8K Miles Software Services offers secure Cloud solutions allowing for organizations in highly regulated industries to embrace the Cloud and that can meet GxP HIPAA PCI SOX and GLB making it easy to meet regulatory compliance on the Cloud. 8K Miles CloudEz platform combines Automation Security Governance and Validation for regulatory compliance helping to reduce costs and time to market. 8K Miles MISP provides automation capabilities for onboarding SaaS Applications and any cloud applications to Cloud Identity Management platforms. In 2009 8K Miles Software Services launched VCE- Desktops and Server Spaces delivered on demand from cloud. In 2011 8K Miles Software Services became Amazon Web Services (AWS) Reseller partner. During the year 8K Miles launched scalability solutions for E-commerce and media companies. In 2012 8K Miles Software Services helped a Canadian remittance company with analytics. In 2013 8K Miles Software Services launched cloud managed services to medium and large enterprises.On 14 May 2013 8K Miles Software Services Ltd announced the acquisition of FuGen Solutions for $7.5 million to expand and build on its cloud and big data security services and solutions to better serve and meet large enterprises and government agencies' growing security and compliance needs. The purchase includes the acquisition of FuGen Solutions' market leading patented Cloud Identity Broker and Multi-domain Identity Services Platform (MISP) an on-demand partner onboarding platform that extends the capabilities of existing Identity Management (IDM) SSO solutions and legacy services to allow enterprise customers and their partners to establish scale and manage their federated access certification and SSO and web services via the cloud. The platform is complementary to 8KMiles' existing cloud architecture serving as an added layer of security while streamlining authentication and enabling secure single sign-on access across multiple cloud-based business systems.In 2013 8K Miles Fugen secured US patent for multi-domain identity interoperability and compliance verification.In November 2014 8K Miles Software Services Ltd announced the acquisition of US-based SERJ Solutions for around Rs 16 crore to step up its presence in the healthcare market. SERJ Solutions is a provider of Epic EHR consulting custom application development and support solutions for the healthcare market.On 19 February 2015 8K Miles Software Services Ltd announced that it has achieved Microsoft Partner Gold Cloud Platform competency. On 9 March 2015 8K Miles Software Services Ltd announced that it has entered into an asset purchase agreement with Mindprint Inc. (Mindprint) a clinical research software startup focused on analytics and operational software for Clinical Research Organizations (CROs) and Pharmaceutical Sponsors. This agreement includes acquisitions of intellectual property client contracts and employees. Mindprint's deep domain knowledge of CRO and pharmaceutical outsourcing operations provides 8K Miles with additional competitive advantage for successfully entering into the CRO market and in order to capitalize on its growth potential.In April 2015 8K Miles Software Services Ltd acquired Cintel a growing UI and UX development company.On 18 September 2015 8K Miles Software Services Ltd. announced that its US subsidiary 8K Miles Software Services Inc. has entered into a Stock Purchase Agreement (Agreement) with NexAge Technologies USA Inc. (NexAge) one of the principal regulatory compliance and technology solutions firms in the U.S. with more than 15 years of experience in Computer Systems Validation Quality Review Vendor Audits Data Analysis and Migration Analytics Change Management as well as Governance for the Life Science and Pharmaceutical industry. The agreement includes acquisition of Intellectual Property (IP) technical solutions client contracts and employees. The total consideration for the deal is USD 3 million in combination of cash and stock and includes the existing NexAge's debt of $800000 (Eight Hundred Thousand US Dollars).In 2015 8K Miles Software Services Ltd. filed new patents on Cloud and IAM offerings.In 2016 8K Miles Software Services Ltd. achieved AWS Managed Partner Status and AWS Life Science Competency. During the year the company also achieved AWS DevOps Competency. During the year the company was selected for the AWS Public Sector Partner program.In 2017 8K Miles Software Services Ltd. achieved AWS Big Data Competency.On 9 February 2018 8KMiles Software Services announced that it has passed the Amazon Web Services (AWS) third party audit review for the third consecutive year and has achieved the next generation MSP Partner designation. This elite designation holds 8KMiles to the highest of standards when it comes to Cloud Managed Service best practices and meeting the ever-growing needs of clients.On 15 February 2018 8KMiles Software Services Limited announced that the Company is launching 8K Health Edge a proprietary Blockchain platform which may translate into solutions for some of the most complex problems in global healthcare.On 11 June 2018 8K Miles Software Services Limited announced that the Company has achieved ISO/IEC 27001: 2013 Certification for Information Security Management System for providing Cloud Services Identity Access Management Big Data and IT Management. Given the way the public cloud adoption is accelerating at the enterprise level and the demand for highly secure systems growing at a rapid pace this major milestone will help 8K Miles in providing its customers a secure platform for their Cloud Transformation and Managed Services.On 25 September 2018 8K Miles Software Services Limited clarified to the stock exchanges that 8K Miles Media Private Limited is not a subsidiary or an associate company of 8K Miles Software Services Limited. The principle promoter and CMD & CEO Mr. Suresh Venkatachari of 8K Miles Software Services Limited owns 0.18% stake in 8K Miles Media Private Limited. 8K Miles Software Services Limited is not involved in any manner to the issues raised by the auditors of 8K Miles Media Private Limited. The Board of 8K Miles Media Private Limited is looking into all the points and comments raised by its auditors and appropriate action will be taken on the same. On 28 September 2018 8K Miles Software Services Limited clarified to the stock exchanges that based on the recent Social Media rumours and unsubstantiated allegations with reference to 8K Miles Media Pvt. Ltd. 8K Miles Media Pvt. Ltd. is not a subsidiary or an associate company of 8K Miles Software Services Limited. R S Ramani who is the principle (83.06%) shareholder of 8K Miles Media Pvt. Ltd. expressed to the Board of 8K Miles Software Services Limited that such allegations are absolute baseless. Mr. R S Ramani has also expressed his desire to step-down from his role as CFO of the company to enable him to have the necessary time to clear all the baseless allegations and un substantiated allegations of 8K Miles Media. Based on the above expressed desire by the CFO the Board of 8K Miles Software Services Limited agreed to his request.On 12 October 2018 8K Miles Software Services Limited informed the stock exchanges that the company has been informed that 25.70 lakh equity shares constituting 8.42% of total equity holdings held by the company's promoter Mr. Suresh Venkatachari in his demat accounts held with Quantum Global Securities Limited and Kumar Share Brokers Limited have wrongfully and illegally transferred through Off Market transactions on various dates to various parties without his knowledge/consent. The Company has been informed that he has taken legal action and has also filed a police complaint on 17 September 2018 against Quantum Global Securities Ltd. and Kumar Share Brokers Ltd. and others for fraudulent and unlawful transactions by wrongfully and illegally transferring his shares of the Company.