CMC (company) - Revision history

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-{{short description|Indian technology services company}}
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-{{Other uses|CMC (disambiguation)}}
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2405:201:4001:50E0:CC44:78E7:9AAA:18D6: /* Privatization */

2021-07-07T06:14:48Z

Privatization

New page

{{short description|Indian technology services company}}
{{Other uses|CMC (disambiguation)}}
{{EngvarB|date=February 2014}}
{{Use dmy dates|date=May 2020}}
{{Infobox company
| name = CMC Limited
| logo = CMC logo.svg
| logo_size =
| logo_alt =
| logo_caption =
| logo_padding =
| image =
| image_sisze =
| image_alt =
| image_caption =
| type = Subsidiary
| industry = [[Information technology]]
| fate = Merged with [[Tata Consultancy Services|TCS]]
| founded = {{Start date|df=yes|1975|12|26}}
| founder = 
| defunct = {{End date|df=yes|2015|10|01}}
| hq_location =
| hq_location_city = [[New Delhi]]
| hq_location_country = India<ref name="cmcltd1">{{cite web |url=http://www.cmcltd.com/contact_us/contact_us.shtml |title=CMC — Contact Us |publisher=Cmcltd.com |access-date=23 February 2011 |archive-url=https://web.archive.org/web/20110625164055/http://www.cmcltd.com/contact_us/contact_us.shtml |archive-date=25 June 2011 |url-status=live }}</ref><ref>[http://www.bseindia.com/qresann/detailedresult_cons.asp?scrip_cd=517326&qtr=65.5&compname=CMC%20LTD.&quarter=MC2009-2010&checkcons=55c Latest Stock/Share Market Updates | Corporate News | Announcements | BSE]. Bseindia.com. Retrieved on 23 September 2013.</ref>
| num_locations =
| num_locations_year = 
| area_served = Worldwide
| key_people = [[N Chandrasekaran]] (Chairman)<br> R.Ramanan (CEO & [[Managing Director|MD]])<br> JK Gupta (CFO)
| services = [[IT service management|IT services]], [[Information technology consulting|IT consulting]]
| revenue = {{profit}} {{INRConvert|25135|m}}
| revenue_year = 2014-15
| operating_income =
| income_year = 
| profit = {{profit}} {{INRConvert|2771|m}}
| profit_year = 2014-15
| assets =
| assets_year = 
| equity =
| equity_year = 
| num_employees = 12,665<ref>{{cite web |url=http://www.cmcltd.com/about_us/factfile.shtml |title=CMC | About Us | Corporate Profile — Your IT PArtner |publisher=Cmcltd.com |access-date=30 August 2010 |archive-url=https://web.archive.org/web/20100815045954/http://www.cmcltd.com/about_us/factfile.shtml |archive-date=15 August 2010 |url-status=live }}</ref>
| num_employees_year = 2014-15
| parent = [[Tata Consultancy Services]] (100%)
[[Government of India]] (0%)
| divisions =
| subsid = CMC Americas Inc.
| module = 
| website = {{URL|http://www.cmcltd.com/}}
| footnotes =
}}

'''CMC Limited''' was an [[information technology]] services, consulting and software company owned by [[Government of India]] headquartered in [[New Delhi]], India .<ref name="cmcltd1"/><ref>{{cite web |url=http://www.cmcltd.com/about_us/factfile.shtml |title=CMC | About Us | Fact File — CMC — An Overview |publisher=Cmcltd.com |access-date=30 August 2010 |archive-url=https://web.archive.org/web/20100815045954/http://www.cmcltd.com/about_us/factfile.shtml |archive-date=15 August 2010 |url-status=live }}</ref> In October 2015, CMC was sold by [[Government of India]] to [[Tata Consultancy Services]] and its owner, the [[Tata Group]] by the [[Government of India|Indian]] Government.

==History==
CMC was incorporated on 26 December 1975, as the 'Computer Management Corporation Private Limited'.<ref>{{cite web |url=http://www.tata.com/company/profile.aspx?sectid=T+waLhSqXO4= |title=Tata Group | Our businesses | Tata Companies | CMC |publisher=Tata.com |access-date=30 August 2010 |archive-url=https://web.archive.org/web/20100824195141/http://www.tata.com/company/profile.aspx?sectid=T+waLhSqXO4= |archive-date=24 August 2010 |url-status=dead }}</ref> The [[Government of India]] (GoI) held 100 percent of the equity share capital. On 19 August 1977, it was converted into a public limited company, again wholly owned by the GoI.

In October 2001, CMC was privatized by the GoI,<ref>{{cite web |url=http://www.servinghistory.com/topics/CMC_Limited |title=CMC Limited : Who, What, Where, When |publisher=Servinghistory.com |access-date=30 August 2010 |archive-url=https://web.archive.org/web/20120421233626/http://www.servinghistory.com/topics/CMC_Limited |archive-date=21 April 2012 |url-status=live }}</ref> and was divested to a leading Indian IT firm, Tata Consultancy Services (TCS), which is the largest software services company in Asia.<ref>{{cite web|url=http://www.chillibreeze.com/articles/TheTopTenSoftwareCompaniesinIndia.asp |title=The Top Ten Software Companies in India |publisher=Chillibreeze.com |access-date=30 August 2010|archive-url=https://web.archive.org/web/20070404045045/http://www.chillibreeze.com/articles/TheTopTenSoftwareCompaniesinIndia.asp|archive-date=4 April 2007}}</ref>

In 1977, the [[Janata Party]] government took office in India. US-based [[Multinational corporation|MNC]]s which were operating in India were told to shut shop and ship out. IBM was one of the companies told to leave. In 1978, CMC took over the maintenance of IBM installations at over 800 locations around India.<ref>{{cite web |url=http://www.cmcltd.com/about_us/history.shtml |title=CMC | About Us | History — We've Come A Long Way |publisher=Cmcltd.com |access-date=30 August 2010 |archive-url=https://web.archive.org/web/20100728083722/http://www.cmcltd.com/about_us/history.shtml |archive-date=28 July 2010 |url-status=live }}</ref> Subsequently, it also took over the maintenance of computers supplied by other (non-IBM) foreign players.

As early as 1980, CMC anticipated the way the world was moving and noted the market requirement for IT system improvements. It directed its efforts to respond to the government's activities and needs for such services. 'Project Interact' (International Education and Research for Applications of Computer Technology), a [[United Nations]] project involving design, development, and systems-engineering of computer-based systems applications in the areas of power distribution, railway freight operations management and meteorology transitioned the company from a hardware maintenance company to a broad IT solutions provider.{{citation needed|date=May 2015}} CMC later expanded its services to systems integration, interfacing, installation, commissioning, software development, as well as education and training. CMC's R&D facility was set up in 1982 at [[Hyderabad, India|Hyderabad]].<ref>{{cite web |url=http://innovation.empi.in/uploads/downloads/Initiative-2008.pdf |title=Initiative 2009 final NEW output.p65 |access-date=30 August 2010 |archive-url=https://web.archive.org/web/20101227071034/http://innovation.empi.in/uploads/downloads/Initiative-2008.pdf |archive-date=27 December 2010 |url-status=live }}</ref>

CMC was renamed CMC Limited ('''C'''omputer '''M'''aintenance '''C'''orporation) in August 1984.<ref>{{cite web|url=https://www.indiainfoline.com/company/cmc-ltd/summary/2296|title=CMC was renamed CMC Limited in 1984|publisher=indiainfoline.com|access-date=11 December 2018|archive-url=https://web.archive.org/web/20181215175057/https://www.indiainfoline.com/company/cmc-ltd/summary/2296|archive-date=15 December 2018|url-status=live}}</ref> CMC Limited has the credit of introducing computer applications at a mass scale in the late 80s with its design and deployment of Indian Railways Reservation System IMPRESS (Integrated Multi-train Passenger Reservation System) in New Delhi on 15 October 1985. It went on to become a huge success, eventually deployed all over India, serving over half a million transactions every single day and cutting wait times for passengers drastically. CMC also followed it up with the design of ARTS (Advanced Railway Ticketing System) for unreserved ticketing.

Following a spurt in the global demand for IT services in the early 1990s, particularly in the United States, CMC decided to expand its operations and market its product and service offerings in these markets. Towards this end, in 1991, CMC acquired Baton Rouge International Inc, USA (it was subsequently renamed CMC Americas, Inc, in 2003), one of the first cross-border acquisitions by an Indian IT firm.

In 1992, the Indian government divested 16.69 per cent of CMC's equity to the General Insurance Corporation of India and its subsidiaries who, in turn, sold part of their stake to the public in 1996. In 1993, CMC's shares were listed on the Hyderabad Stock Exchange and the Bombay Stock Exchange (BSE).

To service and develop its clientele in the UK and Europe, CMC opened a branch office in London in 2000.<ref>{{cite web|url=http://www.indianexpress.com/news/unshackled-cmc-taps-govt-market-and-moves-onto-global-stage/253593/0 |title=Unshackled, CMC taps Govt market and moves onto global stage |work=The Indian Express|date=24 December 2007 |access-date=30 August 2010}}</ref>

===Privatization===
In 2001, the government divested 51 percent of CMC's equity to Tata Sons Ltd, through a strategic sale, and CMC became a part of the Tata group.

In 2003, in line with its strategy of offering its products and services globally, CMC opened a branch office in Dubai to tap the hitherto unexplored markets of West Asia and Africa.

In 2004, the government disinvested its remaining 26.5 per cent stake in CMC to the public.<ref>[http://www.indiamart.com/company/1687949/aboutus.html ] {{webarchive |url=https://web.archive.org/web/20100720213222/http://www.indiamart.com/company/1687949/aboutus.html |date=20 July 2010 }}</ref>

On 16 October 2014, thirteen years after the Tatas had acquired a majority stake in CMC, the Board of Directors of CMC decided to merge the company into Tata Consultancy Services Limited. The merger took effect on 1 October 2015.
CMC employees become TCS employees with same CMC daily wage package.

==References==
{{reflist}}

==Further reading==
* [https://web.archive.org/web/20160518030323/http://www.indiainfoline.com/article/news-top-story/daily-market-strategy-stand-up-india-after-a-crash-indices-hope-for-recovery-116040600284_1.html HP withdraws bid for India's CMC] World IT Report, 9 Apr 2003
* [https://archive.is/20130122235341/http://www.financialexpress.com/news/cmc-in-corporate-governance-top-list/892668/]: CMC in corporate governance top list

{{Tata Group}}
{{Authority control}}

[[Category: Software companies of India]]
[[Category: International information technology consulting firms]]
[[Category: Tata Consultancy Services]]
[[Category: Companies based in New Delhi]]
[[Category: Software companies established in 1975]]
[[Category: Formerly government-owned companies of India]]
[[Category: Indian companies established in 1975]]
[[Category: Consulting firms established in 1975]]
[[Category: Computer companies established in 1975]]
[[Category:Indian companies disestablished in 2015]]