98. Subex Systems

For Subex Systems Pvt Ltd, the FY 2000-01 was the first full year of
transfigured operation software products and services. It may be recalled that
till 1997, it was more an infrastructure company. In 1999, it became aggressive
in the software arena. It raised Rs 7.28 crore through an IPO in mid-July for
expansion of the software development facilities at Bangalore and international
marketing of its cellular fraud management solution, "Ranger". The
money was also used to set up a subsidiary in Atlanta in the US. The company had
a revenue of Rs 55.24 crore during the FY 2000-01.

Subex has been following a two-fold strategy of consolidation–vertical
growth through its own business and horizontal growth through acquisitions. As
part of that strategy, it acquired IVth Generation Inc., USA in January 2000.
Recently it acquired Magardi Inc., Canada, a company, which has a suite of
revenue security products that include OUTsmart, a real-time wireline fraud
management system and INcharge, a billing verification system. With this, it
will be able to address both the wireless and wireline world.

For the vertical growth, Subex Systems’ products division is focused on
revenue assurance applications for the telecom industry. The services part
covers the telecom software solutions development as per the requirements of the
customers based in Europe and North America.