Logix Microsystems Hives Off Carazoo.com As A Subsidiary Company

By SiliconIndia   |    6 Comments
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Bangalore: Bangalore-based interactive automotive solution provider, Logix Microsystems has decided to dispose its online platform Carazoo, which will be turned into a separate subsidiary. Logix Microsystems hopes that this move would enable it to raise funds independently. The company has informed the Bombay Stock Exchange of its decision.

Logix Microsystems was co-founded by Sanjay Soni in 1996. He has over 15 years of experience in the software industry and was authored several books on Computer Science. He pursuer his Bachelor’s in Commerce from the University of Mumbai and holds an MBA from IIM, Bangalore. Soni has also received an award from the Late Prime Minister Rajiv Gandhi for his work on the spread of comouter education in India in the 1990s.

Logix Microsystems is backed by Passport Capital and by Ashish Dhawan of ChrysCapital in his personal capacity. Carazoo has shown a jump of 51 percent in its revenues in 2010-11 and is one of the portals dealing in automobiles, which have attracted a lot of investments.

Logix owns izmoStudio, and its product offerings include izmoWeb, izmoMobi, izmoRainmaker, iConsult, iCRM, AddOnAuto, izmoLive, izmoMail, and izmoMedia. The clientele includes General Motors, Ford Motor Company, Mitsubishi, Yahoo! Autos, AOL Autos, and many other Fortune 500 retailers. The company markets its products in U.S. by izmocars and in India by Carazoo. The company also offers Enterprise Software products, which include Hummingbird, Mainframe Connectivity, Training Services, Secure Computing, Bakbone, Safend, and many others. The media solutions offered by the company include izmomedia CarSite Automative Portals and izmoReader device. Logix has been awarded the Deloitte Technology Fast 500, Asia Pacific for three years.

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