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History of Visualsoft Technologies Ltd.

1998

- The Comp. expanded its operations by adding one more off-shore facility in Hyderabad. The Comp. is currently operative in two off-shore locations in Hyderabad spread over an area of about 15,000 sq.ft.

- During the year, VisualSoft has brought in new philosophies and concepts in HR for overall professional development of its team members. It has introduced a concept of 'Complete Software Engineer' to imbibe & promote both scholastic & non scholastic skills.

- It has also introduced several training programs for team members for fair play with in the teams & also to improve their 'Technological Skills' towards organisational growth.

- During the year, the individuals in different product categories have obtained 30 certifications from Microsoft like VB, VC++, NT, etc.

- Platinum Technologies Inc., USA has signed an agreement with VisualSoft for global distribution of VisualSHIFT a Y2K toolset for C/S Applications & it is now offered as a part of Platinum TransCentury Office' Suite.

- VisualSoft has also developed Euro Methodology for helping its clients for smooth transformation of their Business systems to comply with EMU standards with in the schedule & budget.

1999

- The Company flag ship product VisualShift that is now a part of Platinum Transcentury office suite, has been widely acclaimed in the global market & bagged the highest honours in the form of 'Datamation product of year, 1999'.

- VisualSHIFT has won tremendous client loyalty & its stupendous performance established its focus on technology development.

- The Re-engineering group had developed a 'VS 2000 Methodology' and 'Millennium Pack', a tool set to automate VS 2000 process to increase the overall productivity.

- The Comp. has also developed 'VS EXCHANGE' a EURO methodology for helping clients to carry out a smooth transformation of their business systems to comply with EMU standards within the schedule & budget.

- The Comp. has also developed new products viz., Visual E-SHIFT, VS web project, VS WebDev, VS ECOMM Suite & several Business Objects/Components.

- The Comp. is also developing Business Intelligence [BIs] Objects/Components using CORBA, COM/DCOM to work with universal clients.

- India is one country that offers cost effectiveness, rapid deliveries, great quality, hi-reliability & above all use of state-of-the-art technologies in software development.

2000

- The Comp. has announced a 2:1 bonus issue keeping in tune with market expectations.

- The Comp. name was changed to HBL NIFE Power Systems Ltd.

- The Comp. has launched its latest suite of developer components 'VisualSoft Netdev' at the Microsoft Components Pavilion at TechEd, Europe largest software developers' conference.

- Visual Soft Technologies limited & Tata Consultancy Services have each bagged two awards from the Hyderabad Software Exporters Association for the year 2000.

- Visualsoft Technologies, which is currently developing its first security product eCheck targeting the banking sector, plans to spin-off a separate subsidiary to market & promote the security product in Western markets.

2001

- The Comp. has entered into an agreement with Sun Microsystems.

2002

-Partners with Oracle Corporation, USA to provide integrated & value added development solutions to the users.

-VisualSoft Tech enters into a partnership with Euclid Inc USA.

-Launches its internet protocol components visualsoft FTP & Visual Soft Mail.

2003

-Built up a new range of mobile functions that support systems integrators & help them to offer mobile solutions for diverse applications in the convergence era.

-Hyderabad Development Centre achieves software CMM level 5.

-Shareholders approve for issue of 4,00,000 options made under ESOP scheme.

-Allottment of 92370 equity shares of Rs 10 each to the employees of Comp. who have exercised the options under the Employee Stock Option Scheme.

-VisualSoft undertakes US pilot projects

2004

-Sets up 500-seat business process outsourcing [BPOs] facility with an initial investment 0f Rs 18 crore in Hyderabad.