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Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SYMPHONY TELECA CORPORATION |
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Registered Office : |
2475 Hanover Street, Palo Alto, CA 94304 |
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Country : |
United States |
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Year of Establishments: |
2002 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
develops, deploys, and manages software and
software-enabled products in the United States and internationally |
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No. of Employees : |
8,000 (for the group) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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United
States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
United States - ECONOMIC OVERVIEW
The US has the largest and most
technologically powerful economy in the world, with a per capita GDP of
$49,800. In this market-oriented economy, private individuals and business
firms make most of the decisions, and the federal and state governments buy
needed goods and services predominantly in the private marketplace. US business
firms enjoy greater flexibility than their counterparts in Western Europe and
Japan in decisions to expand capital plant, to lay off surplus workers, and to
develop new products. At the same time, they face higher barriers to enter
their rivals' home markets than foreign firms face entering US markets. US
firms are at or near the forefront in technological advances, especially in
computers and in medical, aerospace, and military equipment; their advantage
has narrowed since the end of World War II. The onrush of technology largely
explains the gradual development of a "two-tier labor market" in
which those at the bottom lack the education and the professional/technical
skills of those at the top and, more and more, fail to get comparable pay
raises, health insurance coverage, and other benefits. Since 1975, practically
all the gains in household income have gone to the top 20% of households. Since
1996, dividends and capital gains have grown faster than wages or any other
category of after-tax income. Imported oil accounts for nearly 55% of US
consumption. Crude oil prices doubled between 2001 and 2006, the year home
prices peaked; higher gasoline prices ate into consumers' budgets and many
individuals fell behind in their mortgage payments. Oil prices climbed another
50% between 2006 and 2008, and bank foreclosures more than doubled in the same
period. Besides dampening the housing market, soaring oil prices caused a drop
in the value of the dollar and a deterioration in the US merchandise trade
deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis,
falling home prices, investment bank failures, tight credit, and the global
economic downturn pushed the United States into a recession by mid-2008. GDP
contracted until the third quarter of 2009, making this the deepest and longest
downturn since the Great Depression. To help stabilize financial markets, in October
2008 the US Congress established a $700 billion Troubled Asset Relief Program
(TARP). The government used some of these funds to purchase equity in US banks
and industrial corporations, much of which had been returned to the government
by early 2011. In January 2009 the US Congress passed and President Barack
OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be
used over 10 years - two-thirds on additional spending and one-third on tax
cuts - to create jobs and to help the economy recover. In 2010 and 2011, the
federal budget deficit reached nearly 9% of GDP. In 2012 the federal government
reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in
Iraq and Afghanistan required major shifts in national resources from civilian
to military purposes and contributed to the growth of the budget deficit and
public debt. Through 2011, the direct costs of the wars totaled nearly $900
billion, according to US government figures. US revenues from taxes and other
sources are lower, as a percentage of GDP, than those of most other countries.
In March 2010, President OBAMA signed into law the Patient Protection and
Affordable Care Act, a health insurance reform that will extend coverage to an
additional 32 million American citizens by 2016, through private health
insurance for the general population and Medicaid for the impoverished. Total
spending on health care - public plus private - rose from 9.0% of GDP in 1980
to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street
Reform and Consumer Protection Act, a law designed to promote financial
stability by protecting consumers from financial abuses, ending taxpayer
bailouts of financial firms, dealing with troubled banks that are "too big
to fail," and improving accountability and transparency in the financial
system - in particular, by requiring certain financial derivatives to be traded
in markets that are subject to government regulation and oversight. In December
2012, the Federal Reserve Board announced plans to purchase $85 billion per
month of mortgage-backed and Treasury securities in an effort to hold down
long-term interest rates, and to keep short term rates near zero until
unemployment drops to 6.5% from the December rate of 7.8%, or until inflation
rises above 2.5%. Long-term problems include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy
shortages, and sizable current account and budget deficits - including
significant budget shortages for state governments.
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Source : CIA |
Company name: SYMPHONY TELECA CORPORATION
Address: 2475 Hanover Street, Palo Alto, CA
94304 - USA
Telephone: +1
650-935-9500
Fax: +1 650-935-9501
Website: www.symphonyteleca.com
Corporate ID#: 5125197
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 03-15-2012
Date founded: 2002
Stock: -
Value: -
Name of manager: Sanjay DHAWAN
Business:
Symphony Teleca Corporation develops, deploys, and manages software and
software-enabled products in the United States and internationally.
It offers solutions in the areas of enterprise mobility, SaaS/cloud
enablement, and product quality management; and cloud, rationalization, and
software management.
The company provides analytics, strategic staffing, product management,
architecture design, quality and sustenance engineering, platform
modernization, application management, product quality management, product
lifecycle management, maintenance and support, and consulting services.
It serves companies in various industries, such as aerospace, automotive
electronics, automotive engineering, consumer electronics, e-commerce and
e-marketing, education, energy and utilities, oil and gas, utilities,
healthcare, financial services, information services providers, Internet and
social media, M2M, retail, security, storage, systems management, and telecom.
Symphony Teleca Corporation has a strategic development partnership with Kovio,
Inc.
It has delivery centers in Bengaluru, Mumbai, and Pune, India; and
Beijing and Shanghai, China, as well as operations in the United States,
Europe, India, and China.
On February 20, 2013, Symphony Teleca Corporation announced that TT electronics has selected the company as its exclusive partner to set up an engineering centre for product engineering services. The partnership is marked by the formation of a dedicated engineering offshore development center that boasts highly skilled designers and engineers who will provide a strategic global delivery solution for TT electronics' customers. The engineering centre leverages the vast Symphony Teleca expertise and track record in providing turnkey solutions from mechanical design and analysis (computer-aided engineering, design, and manufacturing) to hardware design and embedded software for delivering commercial grade products.
The engineering center will be operated as a
hybrid global in-house centre for TT electronics in engineering services and
embedded solutions.
EIN: -
Staff: 8,000 (for the group)
Operations & branches:
At the headquarters, we find the corporate office.
The corporate headquarters are located:
636 Ellis Street
Mountain View, CA 94043
USA
Ph: +1 650 623 9400
Fx: +1 650 623 9401
The Company maintains
several branches in the U.S. and worldwide.
Shareholders:
Romesh T. Wadhwani, Ph.D. founded Symphony Technology Group in 2002 and
serves as its Chief Executive Officer, Managing Partner and Chairman.
Dr. Wadhwani oversees Symphony Advanced Media. Dr. Wadhwani also founded
Aspect Development Inc. in 1990 and served as its Chairman and Chief Executive
Officer since January 1991.
He founded Symphony Teleca Corporation in 2002 and served as its
Chairman.
He served as the Chairman of Aspect Development from January 1991 to
2000.
Dr. Wadhwani served as Vice Chairman of i2.
Prior to founding Aspect, he was the Founder, Chief Executive Officer,
and Chairman of Cimflex Teknowledge Corp. Dr. Wadhwani served as its Chief
Executive Officer from January 1982 to March 1989 and its Chairman until July
1990. In the decade prior to that, he was the Founder, Chief Executive Officer,
and Chairman of a company specializing in information systems for energy
management. From 1973 to 1981, Dr. Wadhwani served as the Chief Executive
Officer at Compuguard Corporation. He served as Executive Officer of Canteen
Vending Services, Inc. He also started
his own business called Canteen Corp. He serves as Chairman of Intentia International
AB, Information Resources Inc and Symphony-Metreo, Inc. He served as Chairman
of Lawson International AB and SymphonyIRI Group, Inc. He served as Vice
Chairman at I2 Technologies, Inc., from June 2000 to October 1, 2002 and Infor
(US), Inc., from April 2006 to July 5, 2011. He has been Director of
SymphonyIRI Group, Inc. since January 2012. Dr. Wadhwani has also been a
Director on the Boards of several companies and organizations. He serves as
Trustees of The John F. Kennedy Center for the Performing Arts and Center for
Strategic and International Studies, Inc. He serves as a Director of Board of
IRI Holdings, Inc., and Findly, Inc. He serves as Member of Governing Board at
Indian School of Business. Dr. Wadhwani served as a Director of Lawson
Software, Inc. until July 5, 2011 and Lawson International AB since 2004. He
joined the Forbes list of billionaires when he founded a highly successful
business-to-business e-commerce company called Aspect Development that made
software for businesses to track internal spending and inventory.
Dr. Wadhwani holds a Ph.D. and an M.S. in Electrical Engineering from
the Carnegie-Mellon University and a B.S. from I.I.T. Bombay.
Management:
Sanjay Dhawan has been Chief Executive Officer and President of Symphony
Teleca Corporation since 2010.
Before joining Symphony Teleca Corporation, Mr. Dhawan served as Chief
Operating Officer and President of Communications Systems at Aricent, Inc.
since November 2007. At Aricent, he was responsible for company strategy,
sales, marketing and the management and oversight of several high-growth
business units and various functional units. Mr. Dhawan served as Chief
Strategy Officer and Executive Vice President of Aricent, Inc. until November
2007, where he oversaw several business units and delivered record-breaking financial
results.
Prior to Aricent, he co-founded Inkra Networks Corporation in May 2000
and served as its Chairman, Chief Executive Officer and President and helped
Inkra Networks to define the virtual networking market segment through its line
of virtual data center technologies.
Mr. Dhawan served as Vice President of Business Development of Netopia,
Inc. At Netopia, he was instrumental in growing the DSL business for Netopia in
the European and Asian markets by driving new initiatives with new and emerging
CLECs in overseas markets.
He co-founded and served as President and Chief Executive Officer of
StarNet Technologies, Inc., where he was responsible for all aspects of company
operations including hiring, raising capital, and general administration. Mr.
Dhawan worked at Advanced Micro Devices (AMD) in Sunnyvale, California, as
Business Unit Director for the Systems Engineering Business Unit.
He was responsible for starting the Systems Engineering Business Unit at
AMD. Mr. Dhawan worked at The Networking Center (TNC), Great Britain, as
Product Manager of Networking Products, where he was responsible for marketing
and sales of VME-bus-based networking products. He also served as Consultant of
3COM UK (formerly BICC Data Networks). Mr. Dhawan has more than 23 years of
executive management experience in the data communications and
telecommunications industry. He serves as a Director of Symphony Teleca
Corporation. He served as Director of Inkra Networks Corporation.
He has led several industry consortiums and has chaired IEEE 802 and
ANSI X3T9 standards sub-groups. Mr. Dhawan has authored several
networking-related publications, including two books on data networking.
Mr. Dhawan has an M.S. degree in Electrical Engineering from Brunel
University, England, and a B.S. degree in Electronics and Communications from
Regional Engineering College, Kurukshetra.
Pradeep CHAUDHRY is the CFO.
As far as we know,
they are involved in other corporations, including:
- SYMPHONY TECHNOLOGY GROUP LLC
- SYMPHONY TECHNOLOGY II GP, LLC
- SYMPHONY METRO INC.
and others.
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Consolidate sales declared
for year 2012 is in excess of USD 500,000,000=
The business is profitable.
Banks: Wells Fargo Bank
...
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC): None