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Advent Computer Services Ltd. Company History and Annual Growth Details

1984 - Advent Computer Services Ltd. (Advent) was incorporated on the
22nd February, under the Companies Act, 1956 in Chennai and
obtained Certificate of Commencement of Business on the 16th
March, from Registrars of Companies, Tamil Nadu at Chennai.

- The Companies main object is to carry on the business of
manufacturers and dealers in computers, computer hardware,
computer software and computer systems both in India and abroad.

- The Company was established as 100% EOU at Chennai, and promoted
by Mr. Michael Arul an ex-IBM technocrat, Mrs. Jennifer Arul and
their Associates.

- The Company was set up to primarily export business application
software designed to run on IBM S/38 computer system that had
been introduced in market at that time by IBM.

1987 - One of the Advent's key objectives was to develop a World Class
Software package for the Wholesale Distribution Industry for IBM
S/38 users.

1988 - IBM introduced the IBM AS/400 Computer System which employs
exactly the same architecture as the IBM S/38.

- Advent foresaw this potential and decided to build a world class
distribution and financial software package called ADS 400
designed to run on the IBM AS/400 computer system.

1991 - The Promoter Mr. Michael Arul acquired 50% shares of the Company
held by ELCOT at a rate of Rs.242.02 per share (Rs.100 Face
Value) for consideration in cash (demand draft).

- Some of the largest and most advanced computer installations in
the country were installed namely, National Information Centre,
New Delhi, Tata Institute of Fundamental Research and Department
of Space, Tumba, Kerala.

1992 - Distribution Agreement was made on 22nd August, between the
Company and Asian Computer Services PTE Ltd. Singapore.

1993 - The Company issued Bonus Shares in the ratio of three shares for
every four shares held on 23rd August.

- On 23rd August the company has capitalised the Reserve by
adopting following scheme:

- a) Unpaid amount on 75000 Equity shares of 100/- each allotted on
05/05/90 (afterwards subdivided into Rs 10/- each) at the rate of
Rs 25/- per share made fully paid up by capitalising the reserve.

- b) Issued fully paid shares to the shareholders (other than those
shareholders whose shares have been fully paid up by capitalising
reserve referred to in 'a' above) by capitalising reserve to the
extent of Rs 18,35,000/- divided into 18,350 No. of Equity Shares
of Rs 100/- each.

- c) Issued Bonus shares in ratio of 3 shares for every 4 shares
held. Total number of shares issued 12,50,625 shares of 100 each
(afterwards subdivided into Rs 10/- each).

1995 - The Company successfully launched ADS 400 in South East Asia, a
comprehensive distribution management system for the IBM/AS/400
is now poised to enter the largest and most lucrative market in
the world for such application software packages viz. the United
States of America.

- Advent has also tied up selling/distributor arrangments in South
East Asia with the Haw Par Group who are one of the leading
business conglomerates.

- The Company has strategic alliance with IBM through TISL
(Business Partner), which would help to maintain in competitive

- Authorised Share Capital Rs 8,10,00,000 divided into 81,00,000
No. of equity shares of Rs 10/- each as on 30th June.

- MoU was signed between CRB Capital Markets Ltd., the Lead Manager
and the Company.

- MoU was signed between Foresight Financial Services Ltd., the
Lead Manager and the Company.

- Software Distribution Agreement was made on 24th January,
between company and Intentia A.B., Sweden.

1996 - The company has also developed its own software packages to
address the areas of retail and distribution businesses. These
packages are of international quality and are likely to generate
business in India as well as overseas.

1997 - There are over 4,00,000 AS/400s installed and in terms of value
represents over 26% of IBM's global revenues.

1999 - The Chennai-based Advent Computer Services Ltd has entered into
a memorandum of understanding (MoU) with L & T Information
Technology Ltd (LTITL) for managing the operations and product

- Advent has also entered into an agreement with CCG, an
information technology firm marketing ADS 400.

- ACS recently made a preferential allotment of 13.75 lakh equity
shares at a price of Rs 23 and the same number of convertible
warrants at a price of Rs 50 each to foreign institutional
investors (FIIs), mutual funds, corporates and individual
investors for an aggregate amount of Rs 10 crore.

2000 - Advent Computer services, a Chennai based software company has
acquired two unlisted companies -- Ibhar Software Private Ltd. and
Softsolutions Private Ltd.

-Company has signed a Memorandum of Understanding (MOU) with TVS Electronics Ltd, Chennai. The following are the main terms and conditions of the MOU

1. Advent would provide technologies of Tuxia GmbH, Germany to TVS Electronics Ltd (TVSE) for incorporating the same in to Set Top Boxes to be manufactured by TVSE as per Advent's Specifications

2. TVSE has agreed to be Advent's manufacturing partner to provide support in Indian and Global market for Set Top Boxes in the areas of Engineering, Product management, Sourcing, Manufacturing and after sales service using 300 location of TVSE in India

3. TVSE would manufacture Set Top Boxes according to specification provided by Advent on terms and conditions to be defined in a separate agreement

4. TVSE has agreed to provide manufacturing capacity as follows

a. 15000 units per month in First Quarter
b. 30000 units per month in Second Quarter
c. 50000 units per month in Third Quarter
d. 60000 units per month in Fourth Quarter

-Out come of AGM
The company has agreed to Delist equity shares from the Ahmedabad and Chennai
Stock Exchanges.

The members have agreed to issue 18,40,000 equity shares at Rs 10/- each to M/s CCG Global Ltd, Mauritius for acquiring exclusive marketing rights of Products and Technologies developed by M/s Tuxia GmbH, Germany for Indian Territory.

To Issue 4,60,000 equity shares at Rs 10/- each to M/s Tuxia, GmbH, Germany for on-going support for all Products and Technologies and for getting new Products and upgrades from them for a period of 5 years.

The members have agreed to increase the Authorised capital from Rs 150 million to 180 million.


- Advent Computer Services Ltd has appointed Mr. Madhavaraj Suresh as an Additional Director of the Company.
Oct 20, 12:00 am
Oct 20, 4:15 pm
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