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Saksoft Ltd share price today (on 4 October 2023).

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BSE: 590051 | NSE: SAKSOFT | ISIN: INE667G01015 Market Cap: [Rs.Cr.] 60 | Face Value: [Rs.] 10 Industry: Computers - Software - Medium / Small

Saksoft Ltd is a leading provider of Information Management Solutions to successful companies around the world. The company is a mid-sized Information technology Company and provides end-to-end business solutions that leverage technology and enables their clients to enhance business performance. They also provide the entire gamut of software solutions including consulting, design, development, re-engineering, systems integration, implementation and testing. Saksoft Ltd was incorporated on November 24, 1999 with the name Sak Infotech Ltd. The company was established with the objective of providing IT solutions for business problems in the banking, financial and insurance sectors. They started their operations in April 2000 in Chennai by establishing a development center. In August 2000, the company started their Singapore Subsidiary, namely Sak Software Pte to manage operations in Singapore and Asia Pacific.
In January 2001, the company acquired the business and assets of Synertech Inc., based at Boulder, USA and renamed it as Saksoft, Inc. In June 2001, they opened a branch office in London to manage business from the U K market. In September 2002, the company acquired the business assets of NeemTree Technologies Pvt Ltd, Chennai along with all personnel associated with the business. In September 30, 2002, the company changed their name from Sak Infotech Ltd to Saksoft Ltd. In January 2003, the company established a subsidiary in Germany. In May 2004, the company established their second development center at NOIDA with the objective of taking advantage of the relatively easier availability of trained personnel in NOIDA and also to provide a continuity of business plan for the company's major customers from a second location. During the year 2007-08, the company transitioned from a single vertical focused player to become an 'information management specialist' IT company across verticals.
They integrated the business operations of Acuma group of Companies with Saksoft. They added 19 new clients and has 36 active clients during the year. In January 25, 2007, the company incorporated Saksoft Pty Ltd, Australia as a wholly owned subsidiary company. During the year 2008-09, the company launched their next version of Dedupe Solution a de-duplication software designed specifically to suit the requirements of high customer data intensive sectors such as banks, insurance, telecom, credit bureaus and airlines. Also, they closed down their Australian subsidiary Saksoft Pty Ltd with effect from June 9, 2009 in order to concentrate on Asia pacific markets through their subsidiary located at Singapore. During the year 2009-10, the company launched their flagship product 'PRIMA', a Pan Banking Customer Loyalty Management System focusing on BFSI segment.
They successfully developed new potentially growth opportunities in the areas of enterprise solutions wherein they seeks leverage strong domain expertise to offer support to their customers by putting processes and services in place and has won a major project with one of the leading bank in India towards implementation of enterprise solution 'Dedupe' developed by the company. In April 20, 2010, the company incorporated a wholly owned subsidiary Saksoft HK Ltd in Hong Kong with a view of creating an expansion in the business opportunities for the company on Asia Pacific markets.
In April 2011, the company launched their Third-Party Application Development & Integration Services and Solutions in the digital space in North America. In June 2011, the company and SOFGEN India Pvt Ltd set up a 50/50 joint venture called SOFGEN Testing Services Pvt. Ltd, which will offer software testing services in the T-24 core banking space.

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