VEDAVAAG Systems completes acquisition of Synaptic System

16 Feb 2017 Evaluate

VEDAVAAG Systems has completed the acquisition of Synaptic System, a software development and Implementation company specialized in ERP for PACs (Primary Agricultural Societies). The board of directors at its meeting held on August 12, 2016 had announced the acquisition of the same.

Accordingly the name Synaptic Systems has been changed to VSL Data Systems. VSL Data Systems has received an order worth of Rs 22.19 crore for implementation of ERP in 906 PACs in the state of Telangana.

In Union Budget 2017, the Government of India has provided Rs 1,900 crore for computerization of PACs across India, and it is also stated that there are 65,000 viable PACs. An equivalent amount of Rs 1,900 crore is to be contributed by the respective State Governments. Vedavaag through its subsidiary VSL Data Systems being the pioneer in this segment is well positioned to become a market leader.

Vedavaag Systems Share Price

51.26 0.55 (1.08%)
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