|The Accel group commenced operations with Accel Limited, which was incorporated in 1991. Accel Limited became a public limited company and changed its name to Accel Automation Limited in July 1997. Accel Limited was involved in the business of third party maintenance services for IT products. In December 1993, Accel Limited acquired the PC manufacturing facilities of Kothari Information Systems Limited, Bangalore and shifted operations in 1996 to Pondicherry. Accel Limited acquired Atreya Technologies and Industrial Development Private Limited, Delhi and the services business of Network Limited, Delhi in June 1996 and April 1997, respectively, to benefit from their service networks in relation to telecom/IT equipment. In 1997, we tied up with a leading international mobile phone manufacturer to be its exclusive national service partner in India.
Our Company was incorporated in the State of Tamil Nadu on June 08, 1995 in the name of Accel Computers Limited as a public limited company. The Registration No. U30006TN1995PLC031736 was assigned to our Company. We obtained our Certificate
of Commencement of Business on June 22, 1995. The name of our Company was changed to Accel ICIM Systems & Services Limited pursuant to the acquisition of the systems and engineering services (SES) business of Fujitsu ICIM Limited and we received a fresh Certificate of Incorporation dated October 21, 1999. Subsequently, the name of our Company was changed to Accel ICIM Frontline Limited, as part of the strategic equity investment made by Frontline in order to leverage FrontlineÂs name in its business operations in India and abroad and we obtained a fresh certificate of incorporation dated August 27, 2004. The
name of our Company was again changed to Accel Frontline Limited, as under the name license agreement dated October 11, 1999 between Fujitsu ICIM Limited, Accel Limited and our Company, the name ÂICIMÂ could be used solely for the SES business and not in relation to other IT businesses undertaken by our Company. We obtained a fresh certificate of incorporation dated November 3, 2005. The registered office of our Company was shifted from SFI Complex, No.179 Valluvarkottam High Road, Nungambakkam, Chennai 600 034 to III Floor, No. 124, Nelson Manickam Road, Aminjikarai, Chennai 600 029 on April 3, 2000.
We commenced operations in 1995 and in 1996 established a manufacturing facility for computer systems, in our factory at Pondicherry. In 1997, we diversified our operations by starting a software development unit in Chennai to offer software solutions for domestic enterprises. In order to expand its operations nationally, our Company acquired the systems and engineering services business of Fijitsu ICIM Limited with effect from January 1, 1999. As part of an internal consolidation exercise in fiscal 2000, we acquired the computer services operations from our holding company, Accel Limited to create a system integration company with operations in hardware, software and services. In June 2001 in order to meet our business
expansion plan, our Company received strategic venture capital funding from ICICI Venture Fund Managment Company Limited through certain funds managed by them and from Intel. In July 2003, we acquired the banking software solutions business from TVS E Technology Limited, Chennai. In 2003, we started a separate business processing unit to provide warranty outsourced services and acquired the mobile phone warranty services buniness of Accel Limited. In October 2003, our Company took over the software development unit of Trinity Infosys India Private Limited which was specializing in SMS services and other wireless applications. We also expanded our software business in the Asia Pacific regions by incorporating two wholly owned subsidiaries in Singapore and Dubai. With the growth in the IT services industry and infrastructure services, the sector has seen an influx of many players. We face competition from the large MNC players as well as regional / local players in various
geographies, including the unorganized sector players. In order to further strengthen our technology and business operations in the Asia Pacific region, our Company entered into a strategic partnership with Singapore based Frontline Technologies Corporation Limited (Frontline). Frontline is a public limited company listed on the Singapore Stock Exchange and having operations in seven countries in the Far East region including China, Malaysia, Thailand, Hong Kong, Taiwan, Phillipines and Singapore. As on the date of filing this Red Herring Prospectus, Frontline Technologies Corporation Limited, is the single largest
shareholder in our Company. For more details on Frontline Technologies Corporation Limited, please refer to the section titled PromotersÂ beginning on page 98 of this Red Herring Prospectus.
For a brief overview on our financial statements for the last five years, please refer to the section titled ÂSelected Financial InformationÂ beginning on page 7 of this Red Herring Prospectus.
History and Major Events
March 1991: Accel group commenced operations
January 1999: Acquired the systems and engineering services division of Fujitsu ICIM Limited
April 1999: Acquired the systems and services division of Accel Limited
January 2000: Certified ISO 9001:2000 for its manufacturing facility in Pondicherry
April 2000 Wholly owned subsidiary set up in Singapore
May 2001 Commenced operations in Sharjah
June 2001 ICICI Venture and Intel invested in our Company
April 2001 Enterprise Software Solutions formed as a strategic business unit
Nove 2001 Bonus issue to shareholders on record date on a 1:1 basis
October 2002 Wholly owned subsidiary set up in Dubai
July 2003 Acquired the banking software solutions division of TVS E Technologies Limited
August 2003 Certified ISO 9001:2000 for IT infrastructure management services
October 2003 Acquired the mobile phone warranty outsourced service business from Accel Limited
February 2004: Acquired SMS and wireless application software services business of Trinity Infosys India Private
June 2004 : Frontline became a strategic partner with equity investment
March 2005 : Certified CMMI Maturity Level 5 (optimising) for software engineering
-Company has changed its name from Accel ICIM Frontline Ltd. to Accel Frontline Ltd.
- Accel Frontline Limited has informed that Ms. Sweena Nair has been appointed as Company Secretary with effect from 2nd January, 2008. Ms. Sweena Nair shall be the new Compliance Officer of the Company with effect from 2nd January 2008.
- The Board of Directors of the Company, have declared an interim dividend of 15% (Rs. 1.50/- per Equity share) out of the profits of the Company for the financial year ended.
- " Accel Frontline Ltd to acquire Ushus Technologies".
- "Accel Frontline commissions new delivery center in Chennai for Remote IT Infrastructure Management (RIM) and Managed services".
- Accel Frontline Services merges with Accel Frontline Ltd.
- Accel Frontline inks MoU with Sci Genom to offer software development services
- Accel Frontline joins hands with SciGenom to offer software development services for the Life Science sector.
- The company has appointed Ms. Ruchi Naithani as an Additional Independent Director of the company.
-Accel Frontline Ltd has titled "Accel Frontline Awarded Multiple Strategic IT Infrastructure Management Contracts".