33. Mascon Global: Expansion, Progress




This Chennai-based company posted revenues of Rs 342 crore for the year ended December 2000, with 99% of revenues coming from software exports. The company focused on an array of verticals like banking, financial services, manufacturing and retail. It coasted through the first quarter of 2001, revenues in this period notching up Rs 107
crore. However, the proposed merger with Maars Software International, a Chennai-based enterprise and e-business company, did not materialize. The deal was called off on grounds that it was not in the “interest of shareholders in the prevailing market conditions”. The company forged new contracts with US-based Enlogics and Psychological Corporation. It also entered into a joint venture with Gemrusa Technologies, Malaysia to strengthen its presence in
APAC.

Business from key customers like GE and Citibank kept flowing in, even as new clients like
WSC, Motorola, AHX Corporation and Laxmi Vilas Bank were added. The company is now targeting future challenges in the realm of e-commerce and enterprise applications integration. 

PERFORMANCE HIGHLIGHTS
  • Q1 alone fetched Rs 103 crore, one-third of the overall revenues of Rs 342 crore
  • A new strategic business unit for communications technologies was set up
  • World Services Corporation, Motorola, AHX Corporation and Laxmi Vilas Bank were among new clients
FACT SHEET
CHAIRMAN: K Chandra START-UP YEAR: 1998
PRODUCTS & SERVICES: AIIMS, E-Tab, iTrack, Loss Reporter and software development
BRANCHES: 14 EMPLOYEES: 1,200 ADDRESS: 320, Anna
Salai, Padma Complex, Chennai 600035
TEL: 4356892
FAX: 4356891 WEBSITE: www.masconit.com
 

Leave a Reply

Your email address will not be published. Required fields are marked *