Accel Transmatic Limited was originally established as Transmatic Systems Ltd (TSL) in the year 1986 by two entrepreneurs from Kerala, M R Narayanan and T Ravindran, with equity participation from Kerala State Industrial Development Corporation, and IDBI. The company was promoted to develop and manufacture professional electronic products and communication systems in the state of Kerala, India. In 1991 TDICI , the venture capital arm of ICICI provided funding for expansion/diversification to manufacture High Speed Dot matrix printers in colaboration with OutPut Technology Corporation (OTC) of USA. In 1994 the company had its IPO, the issue was oversubscribed and the company got listed in the Mumbai, Chennai, Cochin Stock Exchanges. Over the years the company developed a strong product portfolio and marketing infrastructure and established as a leading manufacturer and solution provider in the IT industry. In 2002, the company wanted to diversify into software and technologies space by merging with other technology companies. It approached Accel Limited, an established IT business group based in Chennai for a possible acquisition of the company. Accel Limited acquired the shares held by one of the promoters of the company and the acquisition was completed by August 2003 and thus the company became an Accel group company. Accel's management decided to create a new diversified portfolio for Transmatic Systems by merging two of the group entities namely, Accel Software and Technologies and Accel IT Academy. It was also decided to acquire an embedded software development company based in Technopark, Thiruvananthapuram, namely Ushus Technologies Pvt Ltd (UTPL) into TSL through the merger process, since they were complimentary to the business of TSL. Accordingly a merged entity had been formed effective from 01-01-2004 by the name, Accel Transmatic Ltd (ATL). The legal completion of the merger was completed on 9th February, 2005. In 2006, Accel Transmatic Limited ventured into Animation. A new division was created known as Accel Animation Studios. In 2007, the training division was formed into a new company called Accel Academy Limited, which was 100% subsidiary of Accel Transmatic Limited. In 2008, Accel Limited acquired 51% stake in Accel Academy Limited via cash. The realisation was used to establish infrastructure for the newly created Animation Division of Accel Transmatic Limted. The company strengthened its overseas operations by creating a 100% subsidiary - Accel North America Inc. In 2009, the Systems and Services business was hived off to Accel Frontline Services Limited to synergise operations. In 2010, the balance 49% stake in Accel Academy was sold to Accel Limited to focus on core business operations. Currently, Accel Transmatic focuses on two core businesses Embedded Software and Animation, which are operated through Ushus Technologies and Accel Animation Studios.