(formerly SARK Systems India Limited)

103, West Block, Siri Sai Orchid, Madhapur, Hitech City, Hyderabad 500081
CIN: L72200TG1998PLC029240, Tel: 040-40188140 Fax: 040-40188141 www.vedavaag.com

To

Date:12/08/2016

The Manager, Corp Services (Listing)

BSE Limited
Dalal Street
Mumbai - 400001
Dear Sir,
Sub: Acquisition of Synaptic Systems Private Limited Software product development and
Implementation Services company with primary focus on Primary Agricultural Coop
Societies(PACS)
It is hereby informed that the company has acquired Synaptic Systems Private Limited a software
product development and implementation services company with primary focus on Primary
Agricultural Coop Societies.
In compliance with the listing agreement clause 36 enclosed is the press note on the acquisition for
release.
This is for your information and record. Kindly Acknowledge.
Thanking you, Yours truly,

For Vedavaag Systems Limited

J S R Durgaprasad
Chairman

(formerly SARK Systems India Limited)

103, West Block, Siri Sai Orchid, Madhapur, Hitech City, Hyderabad 500081
CIN: L72200TG1998PLC029240, Tel: 040-40188140 Fax: 040-40188141 www.vedavaag.com

Press Note on Vedavaag Systems Limited acquiring Synaptic Systems Limited A Software product
development and implementation Services company with focus on Primary Agricultural Coop
Societies(PACS).

Vedavaag Systems is working in rural space for delivery of citizen services since 2007 and has been
working PAN India. The company has undertaken Socio Economic Caste Census survey work in some
of the states and has been delivering Aadhar enrolment services in rural India. Vedavaag is a national
level Business Correspondent for SBI and SBP and has close to 1500 Customer service points in rural
India Bihar, UP, Punjab,Jharkhand etc rendering Banking Services in rural India and this coverage is
under expansion multi fold.
Vedavaag has funded this acquisition through internal accruals.
About Synaptic Systems:
Synaptic System Private Limited is a software product development and Implementation Services
company with a focus on Primary Agricultural Coop Societies (PACS). There are over 98000 PACS
pan India servicing over 14Cr small and marginal farmers registered with these PACS. Provision of
Banking services is one of the main activity of PACS, apart from rendering other services such as
Warehousing, merchandise, procurement of farm produce etc.
Synaptic Systems Private Limited is a software product development and Implementation Services
company has gained good domain expertise and has been working with PACS in AP/Telangana for
the past five years and is rendering its services on pilot basis at over 100 societies.
Vedavaag with its focus on rural citizen service and e-Governance considers this as a good
opportunity to acquire in Synaptic Systems a Software product development and Implementation
Services company which is good vertical with lot of potential to grow and synergise the both
companies strengths . The Primary Agricultural Coop Societies (PACS) computerisation market size is
estimated to be around Rs 5000 crores and with this acquisition Vedavaag Systems Limited is
expected to gain substantially.