Advent Computer Services Share Price Live

Advent Computer Services Ltd (ACSL) was incorporated as a 100% EOU on 22 Feb.'84 in Madras and was promoted by Michael Arul an ex-IBM technocrat, Jennifer Arul and their associates. Electronics Corporation of Tamil Nadu (ELCOT), a Government of Tamil Nadu undertaking, subsequently joined in the project of the company on a 50:50 basis. ACSL was set up to primarily export business application software designed to run on IBM S/38 computer systems that had been introduced in the market at that time by IBM. One of the key objectives of the company was to develop a world class software for the wholesale distribution industry for IBM S/38 users. ACSL succesfully launched ADS 400 a comprehensive distribution management system designed to run on IBM AS/400 system. The initial beta site for ADS 400 was established in Melbourne, Australia in 1991 as a US $ 20 bln multinational conglomerate viz. Bunge Corporation for use by one of its Australian subsidiaries M/s Don Small Goods Pty Ltd, which is one of the largest food maufacturing and distribution companies in Australia. In Nov.'95 ACSL chalked out a major expansion programme to enter the U.S., the largest and most lucrative market in the world for such application software and is currently focusing on the European market. During the year 1998-1999, the company established a major breakthrough in its positioning by establishing a strategic alliance with CCG GmbH, Munich, Germany, who are providing both technology and know-how as well as marketing arrangements for the company's products and services. The has company acquired two unlisted companies during the year 2000, Ibhar Software Private Ltd and Softsolutions Private,in a all stock-swap deal at a total valuation of Rs.62 crore.