CMC (company)

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For other uses, see CMC (disambiguation).
CMC Limited
Public company
Traded as BSE: 517326;NSE: CMC
Industry IT services, IT consulting
Founded 26 December 1975
Headquarters New Delhi, India[1]
Key people
 N Chandrasekaran (Chairman)
R.Ramanan (CEO & MD)
JK Gupta (CFO)
Services IT, business consulting and outsourcing services
Revenue Increase ₹25,135 million (US$370 million) (2014-15)
Increase ₹2,771 million (US$41 million) (2014-15)
(Profit After Tax)
Number of employees
 12,665 (2014-15)[2]
Parent Tata Consultancy Services
Website www.cmcltd.com

CMC Limited is an information technology services, consulting and software company having its headquarters in New Delhi, India.[1][4] CMC is part of the TATA Group and is owned by Tata Consultancy Services. CMC was incorporated on 26 December 1975, as the 'Computer Management Corporation Private Limited'.[5] The Government of India held 100 per cent of the equity share capital and owned by government of India. On 19 August 1977, it was converted into a public limited company. In October 2001, CMC was privatized by the Government of India,[6] in a sale to India-based Tata Consultancy Services (TCS), the largest software services company in Asia. It also features on top ten companies in India.[7]

History

During the year 1978,India, CMC took over the maintenance of IBM installations at over 800 around India and subsequently,[8] maintenance of computers supplied by other foreign players.

CMC anticipated the market demand for IT system improvements in 1980 and directed its efforts to respond to the government's activities and needs for such services. 'Project Interact' (International Education and Research for Applications of Computer Technology), a United Nations project involving design, development and systems-engineering, computer-based systems applications in the areas of power distribution, railway freight operations management and meteorology transitioned the company from a hardware maintenance company to a broad IT solutions provider.[citation needed]

CMC later expanded its services to systems integration, interfacing, installation, commissioning, software development, as well as education and training. CMC's R&D facility was set up in 1982 at Hyderabad.[9] CMC was renamed CMC Limited(Computer Maintenance Corporation) in August 1984.[citation needed]

CMC Limited has the credit of introducing computer applications at a mass scale in the late 80s with its design and deployment of Indian Railways Reservation System IMPRESS (Integrated Multi-train Passenger Reservation System) in New Delhi on 15 October 1985. It went on to become a huge success eventually deployed all over India serving over half a million transactions every single day and cutting wait times for passengers drastically. CMC also followed it up with the design of ARTS (Advanced Railway Ticketing System) for unreserved ticketing.

Following a spurt in the global demand for IT services in the early 1990s, particularly in the United States, CMC decided to expand its operations and market its product and service offerings in these markets. Towards this end, in 1991, CMC acquired Baton Rouge International Inc, USA (it was subsequently renamed CMC Americas, Inc, in 2003), one of the first cross-border acquisitions by an Indian IT firm.

In 1992, the Indian government divested 16.69 per cent of CMC's equity to the General Insurance Corporation of India and its subsidiaries who, in turn, sold part of their stake to the public in 1996. In 1993, CMC's shares were listed on the Hyderabad Stock Exchange and the Bombay Stock Exchange (BSE).

To service and develop its clientele in the UK and Europe, CMC opened a branch office in London, in 2000.[10] The next year, the government divested 51 per cent of CMC's equity to Tata Sons Ltd, through a strategic sale, and CMC became a part of the Tata group.

In line with its strategy of offering its products and services globally, in 2003, CMC opened a branch office in Dubai to tap the hitherto unexplored markets of West Asia and Africa.

In 2004, the government divested its remaining 26.5 per cent stake in CMC to the public.[11]

The Board of Directors of CMC decided to merge the Company into its parent company Tata Consultancy Services Limited on 16 - October - 2014. CMC Merged with TCS on 1 October 2015

References

  1. ↑ 1.0 1.1 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Latest Stock/Share Market Updates | Corporate News | Announcements | BSE. Bseindia.com. Retrieved on 23 September 2013.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ [1] Archived 20 July 2010 at the Wayback Machine

Further reading


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