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iGATE Global Solutions
BSE: 532337|NSE: IGS|ISIN: INE177B01016|SECTOR: Computers - Software
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iGATE Global Solutions is not traded in the last 30 days
iGATE Global Solutions is not traded in the last 30 days
Company History - iGATE Global Solutions
1993 
 
 - The Company was originally incorporated as `Mascot Systems
 Private Limited' on 27th December, under the Companies Act, 1956
 and subsequently renamed as `Mascot Systems Limited' effective
 from 31st January 2000 hereinafter referred to as Mascot/The
 Company/The Issuer.
 
 - The Company was initially promoted by Mr. Sunil Wadhwani and
 Mr.  Ashok Trivedi, the promoters of Mastech Corporation.
 
 - The Company provides e-business Solution, Datawarehousing
 Solutions, Application Maintenance Outsourcing, ERP Package
 Implementation Services, Client-Server Design and Development
 Centres under the SmartAPPS (SM) solution suite.
 
 - The Company has set-up an advanced training centre in Pune to
 provide state-of-the-art training program in new technology and
 software products.
 
 - The Company has set up a Competence Development Task Force to
 identify new technology areas and implement competence-building
 plans for the organization.
 
 1995 
 
 - The Company had a paid up equity capital of Rs 30,00,000 which
 was unchanged at December 1999.
 
 - The Company is a 100% subsidiary of Mastech Systems
 Corporation, which is in turn a 100% subsidiary of iGATE Holding
 Corporaiton (formerly Mastech Holding Corporation).
 
 1996 
 
 - The Company established the Advanced Technology Centre to
 manage the challenge of skill upgradation and migration for its
 worldwide clientele and internal needs.
 
 1998 
 
 - The Company set up a development Centre in Chennai, Bangalore
 and Pune.
 
 - The Company process as part of SmartAPPS(SM) received the ISO
 9001 industry certification in November.
 
 - Mascot developed custom Internet applications for one of the
 `.com' companies which aims to revolutionize customer
 interaction over the Internet.
 
 - The Company designed and developed a Sales Management System
 for one of the largest grocery chains in the USA.
 
 2000
 
 - 1,05,00,000 No. of equity shares of Rs 4/- per each fully paid
 up were issued under a rights issue to the existing shareholder
 i.e.  Mastech Systems Corporation, USA at a price of Rs 12.50
 per share.
 
 - The Business of Scott Systems Private Limited was acquired by
 the Company, on a slump sale concept, whereby all the assets and
 liabilities were acquired on an agreed price between the two
 parties as of January 12th.
 
 - The Company has set up branches in the US, the UK, Japan,
 Netherlands and Singapore.
 
 - Public issue of 30,00,000 new equity shares of Rs 4/- each.
 The Issue includes a Book Built Portion of 22,50,000 No. of
 equity shares and a Fixed Price Portion of 7,50,000 No. of
 equity shares.
 
 - The Board of the company have split the Face Value of shares
 from Rs 10/- per share to Rs 4/- per share, based on the
 authority granted at the meeting held on 17th January.
 
 - In January, the company issued Bonus shares to the existing
 shareholders, viz., Mastech Systems Corporation, USA, in the
 ratio of 17 equity shares for every 1 equity share held, by the
 capitalization of free reserves.
 
 - Scott entered into an agreement with Mascot to transfer the
 latter company, with effect from January 12th, the entire
 business of software development, programming services, sourcing
 and training of information technology engineering etc. within
 the territory of India.
 
 - The Company proposes to set up a Joint Venture company in
 Bangalore with debis IT Services, to provide off-shore centric
 solutions using the SmartAPPS (SM).
 
 - The Company established the Employee Stock Option Plan scheme
 for its employees.  Out of the 30,00,000 shares allocated for
 this scheme, 13,55,500 options has been granted to employees at
 an exercise price of Rs 100 per share.
 
 - Mascot Systems, a subsidiary of iGATE Capital (formerly
 Mastech Corporation), US, is entering the capital market in the
 month of April with a public issue of 30 lakh (10 per cent fixed
 price portion) equity shares through the book building route to
 fund its major expansion plans.  Face value of the share is Rs
 4. iGATE will continue to hold 80 per cent of the company's
 equity in the post issue capital, 10 per cent will be reserved
 for ESOP and only 10 percent will be offered to the public.
 
 - Mascot Systems provides software services throughout the
 world, having very strong presence in USA, Canada, UK,
 Netherlands, Singapore, Malaysia and Japan.
 
 - The company has restructured its operations by merging the
 capabilities of iGATE Capital's solutions business units in the
 US, Canada, UK, Singapore, Japan, Netherlands and a Pune-based
 group company, Scott Systems with the company.
 
 - Mascot Systems will open bidding for its book built portion on
 April 10, with an indicative price band of Rs. 480 to Rs. 580
 per share, of the Rs 1.2 crore initial public offering (IPO).
 
 - Mascot provides e-business solutions, data warehousing
 solutions, application maintenance, outsourcing, ERP package
 implementation, client server design and development, conversion
 and migration services and Offshore development centres under
 the SmartAPPS solution suite.
 
 - Mascot Systems Ltd, at present a wholly-owned subsidiary of
 the US-based iGATE Capital Corporation, will form a 50:50 joint
 venture with Debis Systemhaus of Germany to provide off-sore
 software services.
 
 - Mascot Systems is coming out with an IPO of 7,50,000 equity
 shares of Rs 4 each at a fixed price of Rs 480 per share. The
 offer will open on may 2 and close on May 4.  Kotak Mahindra
 Capital Company is the sole lead manager to the issue.
 
 - The company had offered Rs 30 lakh share at a par value of Rs
 4 at Rs 480 and raised Rs 144 crore with its initial public
 offer (IPO). The share capital post IPO stands at Rs 10.8 crore.
 It is into IT services, provides solutions in e-business
 intelligence, custom solutions, application maintenance
 outsourcing and application re-engineering areas. The company
 has a presence in Germany, Netherlands, Sweden, UK, Singapore,
 Japan and USA.
 
 - The Company has entered into a three-year contract with Royal
 Caribbean Cruises to provide application maintenance outsourcing
 for the cruise lines reservation system.
 
 - Mascot Systems Ltd, a leading player in the business
 intelligence application re-engineering and custom solutions in
 forming a 50:50 joint venture with the leading systems
 integration company of Germany.
 
 - The company has tied up with US-based mobile Internet firm,
 Air2Web Inc., to develop wireless technologies.
 
 - The Company has entered the BEA Professional Services Provider
 programme of BEA Systems Inc.
 
 - Mascot Systems Ltd. has entered into a long-term agreement
 with Hewlett Packard Personal Systems Division, Asia-Pacific.
 It has set up a World-class facility in Singapore, equipped with
 state-of-the-art hardware and software, to support Hewlett
 Packard's mission critical applications.
 
 - The Company has entered into a long-term agreement with Hewlet
 Packard Personal Systems Division, Asia-Pacific, to support
 Hewlett Packard's mission critical business applications.
 
 2001 
 
 - The Board has allotted 1,275 No. of equity shares of par value
 of Rs 4 per share to the individual optionees pursuant to the
 exercise of options granted to the employees under the ESOP.
 
 - The Company has entered into a strategic partnership agreement
 with Versata Inc, a provider of software and services that
 automates transaction based e-business applications to offer
 Versata technology solutions in a distributed delivery model.
 
 - The Company has allotted 26,360 No. of equity shares of Rs 4
 each to the individual optionee pursuant to the exercise of
 options granted under ESOP.
 
 2002
 
 -Mascot alters FY 2002 earnings estimate by 22% translates to an EPS
 of Rs 17.25
 
 - Mascot Systems Ltd informs that the allotted 2569 equity
 shares of par value of Rs 4 per share to the individual
 optionee's pursuant to the exercise of options is granted under the 
 Companies Employees Stock Option Plan.
 
 -Mascot Systems appoints Karl Heinz Achinger,International business
 leader to its advisory board.
 
 -Mascot Systems Limited, announces the appointment of Mr. Jiro Aiko
 on its Boards of Advisors.
 
 -Mascot Systems Ltd, announces the appointment of Mr John M Crowther,
 former Vice President and Chief Information Officer of Cummins Inc. to
 its Board of Advisors.
 
 -Receives .6 million order from a Japanese company to be finished
 within three years
 
 -P S Karthikeyan appointed as Chief Delivery Officer of Mascot
 Systems.
 
 -Enters a 3 year US .5 million off-shore centric contract with
 leading International Corporation in Singapore.
 
 -Enters into a partnership with Dalian based Chinese IT services
 company Haihui Sci Tech company  Ltd.
 
 -The Share Transfer Committee of the Board of Directors of Mascot
 Systems Ltd met on August 
 7, 2002 and allotted 10400 equity shares of par value of Rs 4 per
 share to the individual optionee's pursuant to the exercise of
 options granted under the Companies Employees Stock Option Plan on
 receipt of payment of the subscription monies in respect of the said
 shares aggregating to Rs 10,40,000. The grant price for the above
 10400 shares was Rs 100 per share.
 
 -Enters into high potential engagement with Alfred Karcher  GmbH
 
 -Secures prestigious BS7799 Security Standard Compliance
 Certification.
 
 -Board approves for the acquisition of solutions business of eJiva
 and Aqua Regia for a consideration of 450 million and 23.4 million.
 
 -Board approves for the opening of a branch in Australia, Acquisition
 of a company in Germany as a 100% fully owned subsidiary and for the
 incorporation of 100% owned subsidiary in Mauritius.
 
 2003
 
 -Announces that it has been assessed at Level 5 Capability Maturity
 Model (CMM) of the software Engineering Institute.
 
 -iGATE Global Solutions Ltd. (IGS) informs  that they have  announced
 the appointment of 
 N. Ramachandran as Director on the Board to be designated as Director
 and Chief Financial Officer.
 
 -Mr GopalaKrishnamurthy ceases to be the manager of the company.
 
 - Scheme of Amalgamation of AquaRegia Technologies Ltd & iGate Global
 Process Outsourcing Ltd, with the company.
 
 - IT&T Technologies Services Ltd a wholly owned subsidiary of the
 company is entering in to a Business Transfer Agreement with Idea
 Space Solutions Ltd.
 
 -iGate Global Solutions Ltd acquire a controlling stake in Quintant
 Services Ltd India's first BPS company
 
 -Enters into strategic alliance with Nihon Unisys .
 
 -Appoints Mr. Paneesh Murthy as the CEO & Managing Director of the
 company.
 
 -Appointment of  Mr Ashok Trivedi as the Chairman of the company and
 Mr Sunil Wadhwani as the Vice Chairman of the company
 
 -Strategic alliance with the US-based Concours Group Concours
 integrates research, education, and consulting to bring innovative,
 high value business solutions to its clients, which include 300 of
 the Global 1000. Concours is a valued partner of C-level executives
 in these firms. The transaction will involve the investment of
 approximately .8mm into Concours, of which 0,000 has already
 been invested.
 
 -Signs outsourcing deal worth approx  million with ING Vysya Bank
 
 2004
 
 -iGate Solutions Ltd has informed that the members at the Court
 Convened Meetings held on January 7, 2004, have approved the Scheme
 of Amalgamation between AquaRegia Technologies Ltd and iGate Global
 Process Outsourcing Ltd, wholly owned subsidiaries, with the company
 respectively.
 
 -iGate Global Solutions announces multi-year deal to create virtual
 enterprise for GreenPoint Mortgage. 
 
 -iGate Global unveils new Corporate Headquarters at Whitefield,
 Bangalore
 
 -Head of Infosys's European arm, Srinjay Sengupta, has joined
 technology and operations firm iGATE Global Solutions as its chief
 sales officer
 
 2006
 
 -iGATE inks multi-year deal with Owens Corning
 
 -iGate signs a Strategic IT partnership agreement with Radian Group
 Inc
 
 2007
 
 - iGate Global Solutions Ltd has informed that the Board of Directors
 of the Company at its meeting held on October 10, 2007 has inducted
 Mr. Hariharan Sambhashiva as an Additional Director of the Company.
Source : Dion Global Solutions Limited
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