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Our Bureau

Pune, Aug. 14 Carry your ATM with you. All it weighs is 40 kg and you can be safe about the money and can show your clients how easy and safe it is. This is one of the products that have been developed by the Pune-based Axis Software Pvt Ltd.

Mr Abhay Khinvasara, Founder and Chief Executive Officer, Axis Software, told presspersons that this pixie-sized ATMs have found clients in Africa. It is as similar to any other ATM, except its size, and carries out all the normal functions. It also has a GSM modem, automatic checker and a GPRS connection so that the user does not feel lost at any time. He said the company is also in talks with banks in the domestic market for these ATMs and it is expected to begin its installation by year-end.

As part of its client base in Africa, Axis has also won an $5.5-million order from the Commonwealth Business Council, for deployment of ATMs in Africa.

Mr Abhay said the company is also expanding its Pune presence with a new centre, spread over 35,000 sq ft of area. The facility would have a full-fledged product design and customisation centre, research and development services and would have a capacity to seat 350 people. Currently it has about 100 professionals on its rolls.

Axis Software is also setting up a 25-crore facility for the manufacture of ATMs and kiosks in Chinchwas which is expected to be ready in about six months. The company is looking at both debt and equity options to finance the project. It is also looking at tying up with strategic partners rather than going for venture capital funding for its expansion plans.

Mr Abhay said Axis, which recorded a turnover of Rs 18 crore in the last calendar year, is aiming at a target of Rs 450 crore by 2010. About 80 per cent of this , he said, would mostly come from international clients, and the rest from the domestic market.

The company is also in the process of setting up satellite offices in the US, Europe and West Asia for marketing.

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