R Systems International Ltd share Price

R Systems International Ltd is one of the leading providers of outsourced product development and customer support services. The company is a leading global provider of IT solutions and Business Process Outsourcing (BPO) services. Their primary focus is to provide full service IT solutions, software engineering services, technical support, customer care and other IT enabled services to the high technology sector, independent software vendors (ISV`s), banks, financial services companies, telecom, insurance and health care sector. The company develops and markets a suite of applications under the brand name `Indus` for the retail lending sector and undertakes turnkey software projects in the banking and financial services segment. Their offers include iPLM Services, Indus Solutions, ECnet Solutions. They have 8 global centres in India, USA, Europe and Singapore and they serve over 125 customers in over 40 countries across 6 continents. R Systems International Ltd was incorporated on May 14, 1993 as a private limited company with the name R Systems (India) Pvt Ltd. The company originally promoted by Satinder Singh Rekhi and Gurjot Singh Uberoi. In November 1998, the company received ISO 9001:2000 certification. In March 14, 2000, the company was converted into a public limited company and the name was changed to R Systems (India) Ltd. In July 25, 2000, the company changed their name from R Systems (India) Ltd to R Systems International Ltd. In September 2000, they opened new development center in Noida, India. In June 2003, the company received the SEI CMM Level 5 certification. In March 2004, they received the ISO 9001:2000 certification for their BPO operations. In November 2004, they received ISO 9001:2000 certification for Software, Design, Development, Implementation & Maintenance/ Servicing. In January 2006, they received SEI CMMI Level 5 certification for the NOIDA development center. In the year 2006, the company completed their IPO of 4,408,361 equity shares of Rs. 10 each for cash at a premium of Rs. 240 per equity share aggregating to Rs. 1102.09 million. Upon successful completion of the initial public offer R Systems became a listed public company with effect from April 26, 2006. R System is listed on National Stock Exchange of India Ltd & Bombay Stock Exchange Ltd. In August 2006, the company acquired the entire shareholdings of WebConverse, Inc. (renamed as R Systems Solutions, Inc.) a technical support company with operations in Salt Lake City, US serving the high technology sector. In November 2006, R Systems Noida IT & BPO Centre was awarded ISO 27001: 2005 Certification by Intertek Quality Registrar commonly known as BS 7799. In the year 2007, the company signed an `Assets Purchase Agreement` with XtraSource Acquisition Inc, USA and Sento Corporation, USA (the holding company of XtraSource Acquisition Inc, USA) to acquire 100% shares of two wholly owned subsidiaries (Sento B V, Netherlands and Sento S A S, France) of XtraSource Acquisition Inc. In the year 2008, the company acquired 100% shares of Sento Europe B.V., the Netherlands (subsequently renamed as R Systems Europe B V) and Sento S A S, France (subsequently renamed as R Systems S A S). Accordingly R Systems Europe B V, the Netherlands and R Systems S A S, France (collectively referred to as R Systems Europe) became the wholly owned subsidiaries of the company with effect from January 23, 2008. During the year, the company set up branch offices in the Netherlands and Japan. Also, the company`s Software Development and BPO Centres based in Noida were certified by the world-renowned consulting firm KPMG for PCMM Level 3. In the year 2009, the company launched Lending Solutions under Islamic Banking norms, two solutions for the Insurance sector, credit monitoring system for the Telecom sector. They launched many modules and upgrades in the year that cater to the constantly changing needs of the BFSI sector. Also, they started the upgrading of its third module of lending solution - its Loan Management System (LMS). During the year, the company signed a partnership agreement with India`s largest IT services company to offer Indus Collection Solution alongside their core banking product. In July 2009, Software Development and BPO Centres of the company, based in Noida have been certified by the consulting firm KPMG for PCMM Level 5. In January, 2011, the company acquired Computaris International Ltd, a UK based Software Company engaged in the telecom sector. The company proposes to liquidate the R Systems NV, Belgium (wholly owned subsidiary of R Systems International Ltd).