Zenith consolidates software operations

Mumbai-based Zenith Group announced that it is

consolidating its software operations into a single entity to target the

burgeoning software development market in the country and abroad. Zenith

plans to merge its software businesses- Mumbai-based Zenith Infotech and

Singapore-based Zensoft. Post merger, Zenith will market Internet-based

products and focus on customized software contracts mostly in the US and

Europe.

The two software companies, Zenith Infotech and Zensoft, wholly owned

by the Saraf family, posted a turnover of Rs 11 crore and Rs 6 crore,

respectively, with a combined profit of Rs 3 crore during the last

financial year.

According to Zenith Chairman Raj Saraf, "The growing demand for

customized software has led to this decision. The new company will exist

independently of Zenith's hardware operations. We plan to explore new

areas like network information synchronization."

Zensoft is into onsite and small development contracts, while Zenith

Infotech has a portfolio of software products for the Banking, Internet,

and business to business e-commerce.