Zylog acquires Anodas Software Ltd.

26 March 2008

Zylog Systems UK Ltd completed the 100% acquisition of a UK based Insurance Software Provider Anodas Software Ltd on the 29th Feb 2008.

Zylog, a listed (NSE: Zylog, BSE: Zylog) Software Solutions and Services company, serves clients globally since 1995. Zylog provides industry specific Business Application Systems to Banking, Insurance and Financial Services sectors. Zylog specialises in Web, Mobile, Wireless and Client/Server technologies. Zylog operates out of 6 countries, employing over 1000 professionals.

Zylog was ranked 275 in the VAR Business 500 and was recognised as one of the 10 Fast Growth VARs to watch in 2007. It’s in the top 50 Indian Software Companies, according to the much coveted Dataquest TOP 100 list 2007. Anodas, founded in 1999 focuses on two core areas: Firstly, development and marketing of the Phoenix/ePhoenix Underwriting system for Policy Administration. Secondly the provision of Third-party Administration Services, for Brokers, Insurance companies and Intermediaries, using the Phoenix system as the processing engine.

Mr Chandra Mouly, Director of European Operations of Zylog Systems said that the acquisition of Anodas was the first step in establishing Zylog as a premier provider of IT solutions to not just the UK domestic market, but all of Europe. Zylog can integrate its existing solutions for Insurance sales and Claims Management systems, with Phoenix and hence provide an end-to-end Complete Core Insurance solution.

Mr Frank Faulkner, Director of Anodas welcomed the acquisition by saying that with the fresh investment by Zylog Systems, the Phoenix system can be marketed to a wider audience.

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