California Software Company Ltd

California Software Company Ltd

California Software Company (CSCL) was incorporated in Feb '92. The Company is primarily engaged in providing a range of software development services business process outsourcing services and IT infrastructure services. The Company leverages its infrastructure and professionals to deliver solutions across selected verticals including financial services manufacturing (automotive aerospace Hi-tech semiconductors) life sciences & healthcare public services (oil and gas energy and utility travel transport and logistics) retail and consumer products telecom media publishing and entertainment.CSCL has set up a 100% export-oriented software technology park at Madras which commenced commercial operations in Oct.'92. It comes under the Software Technology Park Bangalore which monitors its activities.CSCL commenced operations by managing the MIS services for the Chemoil Group of companies spread over San Francisco Los Angeles Houston New Orleans Panama Singapore Venezuela Philippines and Denmark. It then expanded its clientele to include Technical Solutions Act International International Micro Computer Software Delta Airlines etc. In 1994 it took a wholly dedicated 64 KB satellite link between Chennai and San Francisco to undertake more projects from clients in the US. CSCL has also set up its own world wide web server on the internet to market and distribute software at a low cost. In Feb.'96 it came out with a public issue to part-finance the expansion of facilities at Madras; set up new facilities at Bangalore and add new facilities to its proposed 100% subsidiary -- CSWL US. It has also set up a non-trading office in U.K to cover the European market. During 1999-2000 the company has setup a new software development centre at Chennai.The company had signed an MOU during September 2004for acquiring upto 51% equity of the well known system integratorTeam Frontline Pvt Ltd.The company has signed an MOU during december 2004with Web Spectrum Pvt.Ltd to acquire the entire 100% equity of Web Spectrum Pvt.Ltd which is a bangalore based unlisted company.The company has opened a branch office in the United Arab Emirates during February 2005.The new office will address the needs of the Middle East and Africa markets.Through scheme of amalgamation between the Company and its Wholly owned Subsidiary Webspectrum Software Limited the undertaking Webspectrum Software Limited stood transferred to and vested in the Company effective from April 1 2006.In February 2008 the Company through its Subsidiary HealthNet International Inc. has acquired 100% equity stake in International Innovations Inc. USA. The Company acquired balance 49% stake in Inatech Infosolutions Pvt. Ltd on May 9 2008 and resultant sale of balance 49% shares deemed to be effective January 01 2008. Chemoil Corporation through its wholly owned subsidiary Kemoil Ltd became the sole Promoter of Company effective from July 2008 upon acquiring further 18% stake in Company through Open Offer made to the shareholders of Company in May 2008 and as a result Kemoil's stake into Company stood at 66% and it became a subsidiary of Chemoil Corporation. The Company divested its stake in M/s Team Frontline Limited Cochin effective from 1st October 2008 and Team Frontline Limited ceased to be a subsidiary of Company in 2008.