Tyche Peripheral Systems Ltd (TPSL) was originally incorporated on September '1991 as Bull Power Electronics Private Limited. Its name was change to Intrinsic Automation Systems Private Limited on January 9, 1995 and again changed to Intrinsic Automation Systems Peripherals Private Limited with effect from March 14, 1996. The company was converted into a Public Limited Company on March 29, 1996 and its name was changed to Tyche Peripheral Systems Limited on November '1997.
The company was originally promoted by Mr. R Chandrasekhar Rao, Mr. G.S.R. Prasad and Mr. K. Ravi Kishore have subsequently resigned from the Board due to personal reasons and hence decided to transfer their shareholding & control to present promoters Mr. Pradeep Chauhan, Mr. I. Prem Kumar and Ms. Sabari S. Kambli. The present promoters along with friends, relative & associates acquired shares from the previous promoters at a price of Rs.10/- per share on September 25, 1999. The transfer price was determined taking into account the Book value of the Company as on March 31, 1999 which was Rs.13.97 (approximately).
The company is been engaged in the manufacture of Electronic Cash Registers (ECRs), Currency Counting Machines (CCMs) and Point of Sale Systems (POSS). It is presently one of the important players in the retail automation industry. It has been supplying its CCMs to major Indian public sector banks. The company also markets the ECRs of Samsung and Point Sale Systems (POSS) of Siemens Nixdorf Information Systems Limited.
The company is registered with the Electronics & Computer Software Export Promotion Council, sponsored by Minister of Commerce, Government of India.
The company has entered into a technical agreement with M/s Synkey Group Inc., South Korea for marketing of SYNKEY Brand of ATM machines in the country. The company has exclusive rights to market and maintain this brand of ATM machines.
Also during 2001-02, the company has bagged another prestigious order for supply of Cash Receipting Terminals along with Customized Software Solution valued at Rs.45 lakhs approximately from Central East Distribution Company,Delhi against strong competition from HCL & IBM.