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About Accel Transmatic Limited

Chennai, 3rd July 2006

Accel Transmatic Limited, the Chennai head quartered Technology Services Company providing Embedded Software and Training Services, today announced that it is entering the media industry by setting up an Animation Division to provide 2D , 3D animation, visual effects and gaming services for media companies in India and Overseas.

The production unit christened as Accel Animation Studios will be set up with an initial investment of Rs.25 Million, will employ 50 animators to begin with. The number of animators will be increased to 100 by 2007 and to 300 by 2008 with a total investment of Rs.100 Million.

The company is also setting up an Animation Academy as part of the initiative, to ensure availability of trained manpower for the venture.

"We are committed to provide excellence in digital media technologies by using the latest tools and softwares" says Mr S.Muralidharan, General Manager and Chief Technology Officer of Accel Animation Studios.

“Animation business is the next big opportunity for the Indian Outsourcing Industry and Accel Transmatic’s foray in to this segment signifies our intent to grow in niche segments of the IT industry. In the Software Industry, we focus on Embedded Software Development, in the Training Industry, we focus on IT Infrastructure Management, in our Media initiatives, we decided to focus on Animation and Gaming. We will start with outsourcing to other media companies. Going forward, we will get in to co production and IP development.”said Mr.N R Panicker, Chairman of Accel Transmatic Limited.

Accel Transmatic Limited, originally known as Transmatic Systems Limited is a Bombay Stock Exchange Listed Information Technology company operating in the areas of payment collection systems, embedded software and IT training services. For the year ended March 2006, the company had a turnover of Rs.293 Million and profit after tax of Rs.20.7 Million. The company has facilities in Chennai and Thiruvananthapuram.

Accel Transmatic Ltd completes the scheme of amalgamation with Ushus Technologies and Accel Software.


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