We've Come A Long Way
CMC was incorporated on December 26, 1975, as the 'Computer Maintenance Corporation Private Limited'. The Government of India held 100 per cent of the equity share capital. On August 19, 1977, it was converted into a public limited company.
In 1978, when IBM wound up its operations in India, CMC took over the maintenance of IBM installations at over 800 locations around India and, subsequently, maintenance of computers supplied by other foreign manufacturers as well. Taking over the activities of IBM in India, including many of its employees, helped the company to imbibe a service-oriented culture. This is demonstrated by our long-standing customer associations and our ability to provide high-quality and reliable service.
In 1980, we perceived the need for total IT system solutions in India, and acquired a 'solutions' orientation. We aligned our focus with the government's thrust on IT development activities. A significant milestone in our transition from a hardware maintenance company to a complete end-to-end IT solutions provider was 'Project Interact' (International Education and Research for Applications of Computer Technology), a UN project involving design, development and systems-engineering of real-time, computer-based systems dedicated to applications in the areas of power distribution, railway freight operations management, and meteorology.
As we evolved along the value chain, CMC forayed into systems integration, interfacing, installation, commissioning, software development, as well as education and training, on a national basis. Our R&D facility was set up in 1982, to undertake competency development in niche areas in the frontiers of technology, to provide us the cutting edge. Today, our R&D facility is housed in our Hyderabad campus, and develops advanced solutions in areas such as real-time systems, embedded systems and pervasive computing.
To reflect our diversified business activities, we renamed ourselves 'CMC Limited', and obtained a fresh certificate of incorporation dated August 27, 1984.
Following a spurt in the global demand for IT services in the early 1990s, particularly in the United States, we decided to expand our operations and market our product and service offerings in these markets. Towards this end, in 1991, we 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 our clientele in the UK and Europe, we opened a branch office in London, in 2000. The next year, the government divested 51 per cent of CMC's equity to Tata Sons Ltd, through a strategic sale, and CMC became a part of the Tata group.
In line with our strategy of offering our products and services globally, in 2003, we opened a branch office in Dubai to tap the hitherto unexplored markets of West Asia and Africa.
In 2004, the government divested its remaining 26.5 per cent stake in CMC to the public.
Also see Milestones, for the significant markers in our history.