Press Releases - 2004

CSS Spins Off Products Business

CHENNAI, INDIA - June 23, 2004: Cybernet Software Systems (CSS) Inc. has announced its decision to spin off its Software Products division, Synaptris Decisions, into a separate company.

Synaptris currently has a portfolio of three products in the Reporting and Business Intelligence space, a global base of over 1,600 customers and 170,000 licensed users spread over 40 countries.

Announcing the decision to spin off Synaptris, Shiv Kumar, CEO, CSS Group said: “Synaptris has what it takes to be a successful product company and we are confident of achieving the revenue target we have set for ourselves. As part of this aggressive expansion, we plan to invest heavily in sales & marketing and in protection of our Intellectual Property.

"Our strategy of keeping a large part of our product development in India, while ensuring sales & marketing presence close to our US & European markets has helped us fulfill enterprises' needs for competitive, yet technically superior products", said Shiv Kumar.

The Reporting and Business Intelligence verticals, in which Synaptris will operate, are estimated globally at USD 500 million and USD 1200 million respectively.

Synaptris' products fulfill the needs of Application and Database Developers by providing cost-effective, quality solutions in the printing & reporting, messaging and real-time collaboration data analysis markets.

The products IntelliPRINTPLUS, IntelliVIEW and Synaptris Reporter have a customer-base that sees these products delivering significant value as business productivity solutions.

While IntelliPRINTPLUS is designed to provide precise and smart solutions for Notes reporting and printing needs, IntelliVIEW provides users powerful ad hoc reporting capabilities where business users can query, sort, filter, group, compute and format data, creating business reports from any application.

The Synaptris Reporter is a comprehensive web-based reporting system for enterprise-wide reporting, information delivery, analysis and decision-making.

As part of the spin off exercise, 90 employees of the San Jose, USA, headquartered CSS will move into Synaptris. The company’s employees include architects and developers based in India, Bulgaria and the UK.

The CSS Group has already successfully incubated two other companies within the group, SlashSupport, an advanced Tech Support company and ReadyTestGo, a software QA and Testing services company. Customers include several Fortune 1000 companies in the US and Europe.

More information on CSS is available at http://www.cybernetsoft.com

For Further Information Contact
Kalaivani Sadagopan

Tel: (650) 385 2070 Extn. 4032

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