Accel Transmatic Limited was originally established
as Transmatic Systems Ltd (TSL) in the year 1986 by two entrepreneurs
from Kerala, M R Narayanan and T Ravindran, with equity participation
from Kerala State Industrial Development Corporation, and
IDBI. The company was promoted to develop and manufacture
professional electronic products and communication systems
in the state of Kerala, India.
In 1991 TDICI , the venture capital arm of
ICICI provided funding for expansion/diversification to manufacture
High Speed Dot matrix printers in colaboration with OutPut
Technology Corporation (OTC) of USA.
In 1994 the company had its IPO, the issue
was oversubscribed and the company got listed in the Mumbai,
Chennai, Cochin Stock Exchanges. Over the years the company
developed a strong product portfolio and marketing infrastructure
and established as a leading manufacturer and solution provider
in the IT industry.
In 2002, the company wanted to diversify
into software and technologies space by merging with other
technology companies. It approached Accel Limited, an established
IT business group based in Chennai for a possible acquisition
of the company. Accel Limited acquired the shares held by
one of the promoters of the company and the acquisition was
completed by August 2003 and thus the company became an Accel
group company. Accel's management decided to create a new
diversified portfolio for Transmatic Systems by merging two
of the group entities namely, Accel Software and Technologies
and Accel IT Academy. It was also decided to acquire an embedded
software development company based in Technopark, Thiruvananthapuram,
namely Ushus Technologies Pvt Ltd (UTPL) into TSL through
the merger process, since they were complimentary to the business
of TSL. Accordingly a merged entity had been formed effective
from 01-01-2004 by the name, Accel Transmatic Ltd (ATL). The
legal completion of the merger was completed on 9th February,
In 2006, Accel Transmatic Limited ventured into Animation. A new division was created known as Accel Animation Studios.
In 2007, the training division was formed into a new company called Accel Academy Limited, which was 100% subsidiary of Accel Transmatic Limited.
In 2008, Accel Limited acquired 51% stake in Accel Academy Limited via cash. The realisation was used to establish infrastructure for the newly created Animation Division of Accel Transmatic Limted. The company strengthened its overseas operations by creating a 100% subsidiary - Accel North America Inc.
In 2009, the Systems and Services business was hived off to Accel Frontline Services Limited to synergise operations.
In 2010, the balance 49% stake in Accel Academy was sold to Accel Limited to focus on core business operations.
Currently, Accel Transmatic focuses on two core businesses – Embedded Software and Animation, which are operated through Ushus Technologies and Accel Animation Studios.