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Aztec plans to go public

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CIOL Bureau
New Update

BANGALORE: Bangalore-based Aztec Software, which is into Application Service

Provider (ASP) enablement, is planning to float an Initial Public Offer (IPO)

this year. The company is yet to decide on the capital structure. Newly

appointed Aztec President and CEO, B G Balakrishna said, "We intend to go

public this year, according to the expansion plans of the company. We are in the

process of finalizing the equity structure. We plan to set up another office in

India as well as offices in other countries."

Focusing on hardcore technology, Aztec provides the necessary Net

infrastructure to companies that plan to become ASPs. Balakrishna said, "We

are one of the few companies addressing the ASP market. According to research

agencies, the ASP market is set to grow to a level of around $30 billion by

2003. We want to address this market globally. In India, B2B e-commerce is in a

very early stage. Aztec has already gained expertise in dealing with companies

who work in the B2B space. Aztec has the ‘first mover advantage’ by

embracing technologies like XML and Database Internals. Aztec provides solutions

to early-stage Internet companies and we also work with software product

companies. We provide our software components and IP and also co-develop their

products. As their e-engineering partner, we bring our software component

library and our expertise in XML, Net infrastructure and databases to shorten

the time to market cycles for our customers."

Apart from this, Aztec is opening a Rs 1 crore training center in Bangalore

for its employees. "It is very hard to get skilled employees in our kind of

business. The training center would provide training to our employees on an

ongoing basis. Apart from this, Aztec Software has point to point 2 Mbps link

between its Bangalore office and its Santa Clara office in the US. We are

spending $10,000 every month on this," said Balakrishna.

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