PSI Data Systems Limited
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BSE Code:
532199
NSE Code:
PSIDATASYS
Business Profile
Business Profile
PSI was incorporated in 1973 for the manufacturing products for the space, telecom and IT sectors, form Professor System India Pvt. Limited which became PSI Data Systems in 1976. IN 1988 Groupe Bull took 26% ownership in equity, which is raised to 50.35% in the FY1998. PSI Data Systems Limited (PSI) is a Subsidiary firm of Groupe Bull. Groupe Bull is a multi-billion dollar products and services information technology company. Operating in 85 countries with 20,700 people, Bull�s major shareholders include Motorola, NEC and France Telecom. PSI today provides banking solution, in products like ATM and smart cards, Network management solution, Offshore application software development and onsite software development and web based solutions. In FY98 PSI took 20% stakes in the UK based internet technology and application consulting start-up, Accelerex. PSI caters customers in US, UK, Germany, Brazil, Denmark, Japan, Poland, France and New Zealand.
Recent Developments
PSI Data Systems resolved to acquire 99.91 per cent stake in Birla Technologies Ltd (BTL) for a consideration of Rs 11.26 crore subject to approval of Board of Directors of Grasim. Birla Technologies Ltd which specializes in enterprise integration and mobile applications, has annual revenues in excess of Rs 300 million, anchored by 250 employees, spanning US, Europe and India.
With this acquisition, the IT sector within the Aditya Birla Group is positioned to become a much more focused business under a single umbrella. Considering market reach and organizational efficiencies the integration of the two companies will be planned.
The board of directors of Indian Rayon & Industries yesterday, October 24, 2001, approved the transfer of Bull SA`s 50.35 per cent equity holding and the public holding of 20 per cent in PSI Data Systems in favour of Indian Rayon.
Future Plans
PSI plans to concentrate on expanding its client base worldwide. It will be launching products on enterprise network management systems and will focus on Java based applications software products and internet based solutions.