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This is a really important time for our company. I would like to take this opportunity to provide greater detail.

Chennai-headquartered California Software Co. Ltd. (Calsoft) has completed its 100% acquisition of International Innovations Inc.. Calsoft is a public limited company in India with a global presence. Founded in 1992, the Calsoft group including subsidiaries currently employs over 1000 people. The group has development centers in Chennai, Bangalore at India; Pleasanton (California), Boston and Omaha at USA with marketing offices in the US, UK, Singapore, Japan, Dubai and India. Its development practices are certified at CMMi Level 5.

Innovations brings its expertise and presence in the Information Management market in the USA, to Calsoft’s enterprise offerings and capabilities, a key focus area for the company.

Calsoft’s strategic equity stake allows us to serve our clients even better by offering them greater choice and the support of a ‘glocal’ (global+local) team. With our combined synergies our strengths multiply, specifically:

• Our Integrated delivery capabilities offers our clients the cost-effectiveness of offshore resources balanced with the assurance of onshore control and management rigour.
• Our experience allows us to offer “Fixed Bid” BI Projects around the globe.
• With 15 offices in 9 countries , the Calsoft – International Innovations combine is well positioned to serve clients global.

Our combined goals for the future remain the same—to make value-added contributions to our customers and meaningful investments in employees, processes and R&D.

We are committed to investing in our employees, providing them with the training and support they need to fulfill their potential as individuals and to enjoy a rewarding career. It is their dedication, hard work and enthusiasm that transforms vision into reality for our customers everyday!

As we look to the future as a truly global company, there are a number of trends in the marketplace upon which Innovations is well positioned to capitalize.

With the ever increasing amounts of data flowing inside and outside of organizations, the need to manage and draw meaningful information has never been greater. Historically, companies have focused on structured data only (using databases). Innovations is focused on consolidating information from structured as well as un-structured data sources (for example PDF, word and power point documents), to bring valuable information to the knowledge worker. According to a recent survey done by Accenture™ organizations today recognize the true value of information management and are investing in it as a means to achieve competitive differentiation. A report by the CIO magazine corroborates that focus by citing “Business Intelligence as the top priority for CIOs in 2008”.

I am extremely excited to be leading Innovations at this time. I look forward to building upon the values that our company represents and achieving greater results in the coming years for the benefit of our employees, business partners, customers and stockholders.

I want to thank all of you for being a part of Innovations.