Introduced solutions in the retail market Focussed on banking and retail segments Acquired 48% of equity share capital of Spice Systems

2002 marked the third straight year of decline for the company, despite introducing solutions for the retail market. SpiceNet focused on banking and the retail segment and in a significant move acquired more than 48% of equity share capital of Spice Systems, which is in the business of document management systems. The company plans to fortify its position in the passbook printer segment and system integration provider to the banking sector.

MD: Arun Seth Start-up year: 1989 Products & services: System integration services, specialized printers Employees: 175 Branches: 12 Address: D4, Okhla, Phase 1, New Delhi 110020 Tel: 26814544 Fax: 26817702 Website: www.spicenetindia.com