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Accel Transmatic Limited BSE: 517494 is a company headquartered in Chennai, India. The company's major focus areas are Product R&D and development, software R&D and development & Animation. Accel Transmatic is a publicly traded company listed on the Bombay Stock Exchange (BSE)[1]
| Company type | Public |
|---|---|
| Founder | M R Narayanan and T Ravindran |
| Headquarters | Chennai, India. |
The company has it main operations in Chennai, & Trivandrum in India. The company also has subsidiaries in California, United States & Tokyo, Japan.
History
editAccel Transmatic Limited was originally established as Transmatic Systems Ltd (TSL) in the year 1986[2] by two entrepreneurs from Kerala, M R Narayanan and T Ravindran, with equity participation from Kerala State Industrial Development Corporation, and IDBI. The company was promoted to develop and manufacture professional electronic products and communication systems in the state of Kerala, India.
In 1991 TDICI, the venture capital arm of ICICI provided funding for expansion/diversification to manufacture High Speed Dot matrix printers in collaboration with OutPut Technology Corporation (OTC) of USA.
In 1994 the company had its IPO, the issue was oversubscribed and the company got listed in the Mumbai, Chennai, Cochin Stock Exchanges.
In 2002, the company diversified into software and technologies space by merging with other technology companies. It approached Accel Limited, an established IT business group based in Chennai for a possible acquisition of the company. Accel Limited acquired the shares held by one of the promoters of the company and the acquisition was completed by August 2003 and thus the company became an Accel group company. Accel's management decided to create a new diversified portfolio for Transmatic Systems by merging two of the group entities namely, Accel Software and Technologies and Accel IT Academy. It was also decided to acquire an embedded software development company based in Technopark, Thiruvananthapuram, namely Ushus Technologies Pvt Ltd (UTPL) into TSL through the merger process, since they were complementary to the business of TSL. Accordingly, a merged entity had been formed effective from 01-01-2004 by the name, Accel Transmatic Ltd (ATL). The legal completion of the merger was completed on 9 February 2005.
In 2007, Accel Transmatic expanded its animation production by opening up a motion-capture facility in the Kinfra-Film & Video Park in Thiruvananthapuram.[3]
In 2011, Accel Transmatic after completing necessary approvals from Shareholders and board decided to shut Software Operations (Technologies Division - including overseas subsidiary, Accel North America, Inc.), to focus better on Animation and Media Company.[4]
Subsidiaries
edit- Accel North America (ANA)
- Accel Solutions Japan
References
edit- ^ "The Hindu Business Line : Accel Transmatic set for infrastructure upgrade". Businessline.in. 5 February 2008. Retrieved 28 July 2010.
- ^ "Accel Ltd. (ACCEL) - Company History". business-standard.com. Retrieved 27 October 2021.
- ^ Frater, Patrick (11 June 2007). "India's Accel expands cartoon production". Variety. Archived from the original on 30 October 2019. Retrieved 30 October 2019.
- ^ "ACCEL TRANSMATIC LTD. - Re-organisation of Company's operations". NDTV profit. 26 August 2011. Retrieved 28 October 2021.