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Dynacs Inc goes public

Nitish S Rele in Tampa

Dynacs Inc (DNAC), an Indian American firm in Palm Harbor, Florida went public last week. Dynacs, an global aerospace and software engineering firm is selling three million shares at $ 9 to $ 11 a piece through underwriters led by H C Wainwright & Co. Pricing was done on August 9 and it was listed the next day on Nasdaq.

Ramendra P Singh, who co-founded Dynacs in 1985, hopes to expand the company's business in information-applied technology and media.

Dynacs primarily designs, tests and analyzes air, space and group support systems for both government and commercial sectors. Among its clients are NASA, the US Air Force, Boeing, Lockheed Martin, TRW and Hughes Satellites.

Its subsidiary, Dynacs Digital Studios, cost effectively colorizes and restores film and video. Its clients include The Walt Disney Company and Columbia Pictures Television Group.

Based in Patna, Dynacs Digital Studios provides such services as digital color remastering, digital ink and paint, color special effects, 3D animation, digital medical archiving, custom software/hardware development, digital restoration, HDTV conversion, Web hosting and the development and delivery of original programming.

Dynacs took the lead recently in teaming up with NASA, the University of Florida in Gainesville and others to unveil a $ two million cryogenics research center at Kennedy Space Center.

The Cryogenics Testbed Facility at the space center will serve as a lab and research site for government and commercial use.

Dynacs, which employs more than 1,200 people in the US and abroad, had revenues of about $ 57 million in 1999.

For more information, check out its web site at www.dynacs.com.

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