- Stock Valuation and Financial Performance

Semantic Space Technologies Limited initially was incorporated in 1997 with a vision of simplifying Information Technology for business. The company has since than evolved to emerge as a specialized solutions provider offering Application Services, Independent Verification and Validation Services (IVV) and Systems Integration (SI) Solutions. Through the acquisitions in the years 2006 and 2008 it stepped into the specialized service delivery areas of IVV and SI thereby expanding inorganically. All of its services namely Application Services, IVV and SI each of which operates under its integrated enterprise and delivers a set of unique attributes that strengthen the overall value proposition. Application Services, IVV and SI complement each other effectively and operate with a common strategy of relying on pre-built tools, utilities, reusable components and application frameworks to provide increased value to its customers.

Currently it serves a client base of 400+ marquee customers, 40 of whom belong to the Fortune 500 category. Powered by a diverse workforce of over 850 associates operating across North America, Europe and APAC, it has successfully delivered over 1,000 projects till date. It has three well equipped offshore delivery centers in Hyderabad, India which are designed to support their onsite business and enhance their productivity and efficiencies. It has presence in the US through offices in New York, California, Florida and Pennsylvania. In Europe, they have presence in London, UK and in Hamburg, Germany.

• In the year 2006 it was incorporated a wholly owned subsidiary, namely SSTAC in California in United States of America with the objective of making an acquisition and broadening the portfolio of services being offered by our Company.
• In the year 2008 the company incorporated a wholly owned subsidiary, namely SSTNA in the US for acquiring JYACC, a New York based corporation, doing business as Prolific. JYACC was formed in 1978, and provided consulting services and proprietary software for multiple platforms for more than 20 years. In 2000, JYACC’s strategy was refocused on IBM technologies, specifically IBM’s Web Sphere application server products. In 2006, JYACC acquired substantially all the assets of Prominex, Inc., a Pennsylvania-based systems integrator specializing in SOA and EAI implementations for a consideration of US$ 35,000. In 2007, JYACC acquired substantially all the assets of 7 Irene Limited, a UK-based systems integration and consulting company, for a price based upon subsequent financial performance of the acquired units.

Business profile:

The company was founded an engaging vision of providing solutions and services that would help simplify the enablement, implementation and upgrade of Information Technology for business enterprise and provide value realization for not only their immediate customers, but to their end customers as well. It has thereby evolved to emerge as a specialized solutions provider offering a variety of solutions and services in mainly three areas: Application Services, Independent Verification and Validation Services (IVV) and Systems Integration (SI) Solutions in the Application Infrastructure and Middleware space. It has leverage a differentiated business model through investments in pre-fabricated software components and frameworks to build enduring value for their customers. They have expanded their service portfolio with strategic acquisitions to emerge as a well-balanced player in the IT services segment. They offer their services under three SBUs viz. Application Services, IVV and SI - each of which possesses a set of unique attributes and delivers value that strengthen the overall business proposition from the organization. Application Services is an encompassing portfolio of general IT services around Application Development, Maintenance, Modernization and Support. Systems Integration in the AI&M space underscores their focus and attention to the growing market space of middleware and application infrastructure layer. Their premium services and solutions of Systems Integration in this space give them the advantage of spreading their offerings for the same clients into the Application Services arena. In addition, the IVV services and solutions that focus on testing and quality assurance have a presence in everything that they build, maintain, migrate, support, configure and implement - be it in SI or in Application Services space.

Key events:

• 2001 - Launch of PPM Studio, a differentiating governance solution.
• 2005 - First round of Private Equity Investment by UTI ITVUS Private Equity Investment by New Vernon.
• 2006 - Incorporated SSTAC, in California, USA, as a wholly owned subsidiary of the company acquisition of Arsin Corp., a California-based company, including its 100% subsidiary ASPL by SSTAC SSTAC merged into Arsin Corp., with Arsin Corp., being the surviving entity. Awarded the second top SME Exporter in JJ Sector, State of Andhra Pradesh.
• 2007 - Second round of private equity investment by UTI ITVUS Received ISO 9001:2008 in respect of Design, Development, Maintenance, Customization and Testing of Software Solutions using Web and Enterprise Technologies.
• 2008 - Incorporation of SSTNA, in Delaware, USA, as a wholly owned subsidiary of the company. Acquisition of JYACC, New York, USA, by SSTNA.
• 2009 - Received ISO 27001:2005 for Management for Information Security Provision of Software Development and Software Testing Services.
• 2010 - Amalgamation of ASPL into their company.