Advanced Synergic to set up software Tech Park
Economics Times
Bangalore Tuesday 18 January 19

Advanced Synergic Microsystems Ltd is setting up a software technology park in Bangalore. Mr. S Rabindra; director , Advanced Synergic, said here today that the STP would come up by April this year and would have 64 KBPS data link to facilitate high -speed data communication.

Advanced Synergic is engaged in the development of software for exports and for providing computer aided design and computer aided manufacturing solutions for the domestic market. The company has been involved in providing solutions in the area of CAD/CAM over the last few years. It has also tied up with Silicon Graphics Inc(SGI), USA as a value added reseller for SGI's Iris Indigo and Crimson range of work stations.

Mr. Rabindra said company had already received orders for the supply of six Silicon Graphics systems. According to Mr. Rabindra, Advanced Synergic had also recently signed up with Computer Vision for distributing their software products in the Indian market. Advanced Synergic is now planning to expand its operations in the area of software development on PCs, minicomputers, workstations and mainframes and in the CAD/CAM solutions area. Another area that the company is now focusing upon on the domestic application software segment.

It is planning to develop and market application relating to the banking and insurance sectors. The total project cost of the expansion is RS 4.6 crore, To part finance its expansion. Advanced Synergic is planning to tap the capital market in the last week of February. Mr. Rabindra said the approval from Sebi had already been received. The issue of 18, 50,000 equity shares of Rs 10 each for cash are par aggregating Rs 1.85 crore. The promoter's contribution to the expansion is Rs 1.15 crore while the term loan from IDBI accounts for Rs 1.6 crore.

Mr. Rabindra said Mr. Harshad Mehta; the scan-tainted broker was not involved in any way with Advanced Synergic Microsystems. Mr. Harshad Mehta and Mr. Rabindra together promoted Synergic International in 1992 to undertake the activities that Advanced Synergic is currently engaged in.

Mr.Rabindra said Advanced Synergic had recently signed a memorandum of understanding with Prompt Inc, USA to provide software services in Japan. The contract is valued at Rs 30 lakh. Advanced Synergic is also planning to take up duplication of software packages from Point Control and Structural Research Analysis Corp. both of US.