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Sonata Software Ltd. Company History and Annual Growth Details

1986

- Sonata was initially set up as a division of Indian Organic Chemicals
Ltd. and spun off into a separate company for a consideration in 1993.

1993

- As part of the growth strategy, the key strategic issue to be
addressed in the long term was to attract and retain employees. With
this in mind, it was felt imperative to offer a substantive Stock
Option Plan which, necessitated the formation of a separate company.

1994

- The Sonata division of IOCL was spun off as an independent company
namely, Sonata Software Ltd., in October, for a consideration of Rs.
8.14 Crores. Of this consideration, Rs. 1.75 Crore was allotted as
fully paid up equity (17,50,000 fully paid up equity shares of Rs. 10
each at par) and Rs. 6.39 Crore as debt which has since been paid off.


- On October 18th company received its certificate of incorporation.
And the same year Company got ISO certification.

1995

- Following the setting up of a new company, an Employee Stock Option
Plan was formulated and a Trust was formed namely, Sonata Software
Limited Employees Welfare Trust to which was allotted 5 Lakh equity
shares each on 30th October, and 21st March, 1996.

- On 30th October, the company also allotted shares to Bhupati
Investments & Finance Company Ltd., and a few employees of IOCL and
Sonata. The paid-up equity share capital following the above
allotments stood at 32,51,600 fully paid up equity shares.

- As part of a restructuring plan, IOCL disposed of and sold its equity
holding in Sonata to the present promoters of Sonata for a
consideration of Rs. 78 per share and Rs. 87 per share based on the
valuation certificate issued by IOCL's auditors and in consultation
with financial institution.

1998

- On September, the Company issued bonus shares at a ratio of 13 equity
shares for every 10 existing equity shares, raising the paid up equity
capital to 74,78,680 shares.

- On 3rd December company issued 25,22,000 equity shares of Rs.10 each
at a premium of Rs.80 per share to the public.

- Sonata Software of Bangalore and Microsoft Corporation of India
(MCI), in an alliance are providing enterprise wide collaborative
solutions.

- Sonata has built world class collaborative applications based on
Microsoft's robust platform for messaging which integrate easily with
Internet.

1999

- Sonata Software Ltd. is buying out the 46 per cent stake of Indian
Organic Chemicals Ltd. (IOCL) in the former's US-based subsidiary,
Offshore Digital Services Inc (ODSI).

- Sonata is converting ODSI into a 100% subsidiary to restructure its
operations.

- Sonata formed a joint venture (JV), Abisko Development, with its
long-time business partner.

- Sonata has also formed up joint venture agreements with Scala
Business Solutions. A long-term project contract worth $3 million
spread over two years, has been finalised with Abisko, the joint
venture company.

2000

- The company is also designing the healthcare portals for many of the
US companies.

- Sonata Software and Milan, Italy-based IT Software signed a joint
development agreement aimed at providing IT Software's e-finance
projects with the development services of Sonata Software.

- The Miland-based IT Software has entered into an agreement with
Sonata Software Ltd, a city based company, for sourcing the latter's
services for its e-finance projects.

- The Company has entered into an alliance with BAport Technologies
Inc. - the US-based start-up - which develops business applications for
the application service provider market.

- The Board of the company decided to spin off its India operations
into a newly formed subsidiary to be called as Sonata Information
Technology Ltd.

- The Company has acquired 1,60,000 ordinary shares in the capital
stock of Off-shore Digital Services, Inc., USA, for a consideration of
$0.26 million subject to necessary approvals.

- The Shareholders of Sonata Software have approved the 10-for-1 split
of its equity shares, that is, each share, which has a face value of Rs
10, share be split into 10 shares with a face vaue of Re 1 each.

- Sonata Software Limited and SpinAway eBusiness Solutions Inc of USA
has strategic alliance to address IT consulting market in the USA.

- Sonata Software Ltd has on September 24, 2001 announced achievement
of a Level 5 (Optimizing Level), the highest possible through an
assessment on the Capability Maturity Model (CMM) Based Appraisal for
Internal Process Improvement (CBA-IPI) developed at Carnegie Mellon
University's Software Engineering Institute (SEI).

2002

-Appoints Mr S N Talwar as the Additional Director of the company.

-Board approves for the opening of Branch office at Manchester.

2003

-Opens a branch office at Singapore and Seatle, USA.

2004

-Sonata forges strategic alliance with TechDiscovery, an Atlanta-based software engineering firm focused on building commercial-grade applications for technology companies

-Sonata Software Ltd has informed that the Board of Directors vide circular resolution passed on January 15, 2004, have appointed Mr. B.K. Syngal (Vice Chairman of BPL Innovasion Business Group) as an Additional Director of the Company. Accordingly, Mr. Syngal shall hold office as Additional Director upto the date of the next Annual General Meeting of the Company to be eligible for re-appointment, as a Director retirable by rotation. Mr. B. K. Syngal will be an Independent Director.

-Sonata Software Ltd, the Bangalore-based IT consulting and software services firm, has announced the appointment of Mr Brijendra Kumar Syngal as an additional director on its board.

-Forges alliance with Gupta Technologies LLC, a provider of embedded relational databases and visual development tools. Company will provide product engineering services for Gupta Technologies LLC and will be a value-added distributor for the Indian market

-Sonata Software opens third development Center in Bangalore

-Sonata Software has won the 2004 Microsoft partner program award for its E-commerce trading solutions developed jointly with Microsoft for UK's Beanstalk interactive company

-Sonata Software joins Microsoft Mainframe Migration Alliance (MMA)

- Microsoft recognises Sonata Software's solution as the winner of the Customer appreciation award in the 2004 Microsoft Partner Programme Awards. Company's solution was adjudged an innovative solution for their UK client Beanstalk Interactive

-Sonata Software ties up with TUI

2005

-Sonata Software Ltd forges strategic alliance with Microsoft Corporation, USA to bring significant business benefits to Independent Software Vendors (ISVs), large Enterprises and mid market organizations.

-Sonata Software signs partnership deal with California Software

-Sonata Software unveils second development centre for TUI

-Sonata Software launches SonnetBI Analyzer suite

2006

-Sonata signs closing memorandum; becomes 50.1% shareholder of TUI InfoTec GmbH, Germany
 
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