Datamatics Technologies (DTL) has been promoted by Dr Lalit S Kanodia, and Mrs Asha S Kanodia. The company is engaged in the Non-Voice Business Process Outsourcing also called Information Technology Enabled Services(ITES). The company also provides Back Office Services, Content Management and Consulting Services. The Subsidiaries of the company are Datamatics Technoloiges Inc., Datamatics Technologies UK Ltd, Datamatics Technologies GmbH and Datamatics Softworld Pvt Ltd. During 2004-05 the company's software services have been certified by SEI CMM Level 5. In June 2003, DTL formed a joint venture with Cadmus (its largest client), called KGL. DTL holds only 20% stake in KGL, with Cadmus holding the balance 80%. Interestingly, Cadmus has the right to acquire the balance 20% of the stake at its own will in or after June 2006. Knowledgeworks Global Ltd (KGL) is a joint venture company between the company and Cadmus Communication Corporation to provide content processing, content management and related services to scientific, technical and medical journal publishers. In April 2004, DTL came out with an Initial Public Offering (IPO) of 1,03,00,000 equity shares comprising a fresh issue of 85,00,000 equity shares and offer for sale by promoters of 18,00,000 equity shares. Post-issue, the promoters' stake will fall from 92.83% to 68.95%. DTL's price band of Rs 101 to Rs 110 discounts the nine-month annualised EPS of Rs 6.8 on post-issue equity in the range of 14.9 to 16.2 times. The company made a maiden public offer in April 2004. Consequent to this offer the paid up capital of the company stood at Rs.202,998,685/- consisting of 40599737 equity share of Rs.5/- each as on 31st March 2005. The Company has consolidated its US subsidiaries into one single entity offering a more diverse, stronger multi-locational partner. Datamatics Technologies Inc. and Saztec International Inc were merged into CorPay Solutions Inc with effect from 1st August 2004. Further the name of CorPay Solutions Inc was changed to Datamatics Technologies Inc. During 2004-05 the company has sold Datamatics Infosolutions Ltd, a subsidiary company. Further all the ITES contracts in Datamatics Infosolutions Ltd have been transferred to the company resulting in consolidation of the operations of the company.