CSS, engaged in product development and internet-related services is currently valued at $20 million. ``But after our recent developer's award from Lotus Inc, the valuation of the company has shot up vastly,'' said Shiv Kumar, vice-president (products), CSS declining to reveal the current figures.

Its Indian subsidiary, Cybernet Software Systems Pvt Ltd had recently bagged the Millennium Lotus Beacon Award in the best tool/utility category for its product, IntelliPrint for Lotus Notes/Domino. The product is a printing utility that enables to print from the browser environment from Lotus Notes.The company bagged this award among 18,000 developers worldwide and CSS is the first Indian developer to win this award, said Kannan Ramaswamy, head southern region, Lotus Development Corporation.

Intelliprint, currently being sold at $50 per Notes client, will soon be offered as a bundled solution. The company has already tied up with four OEMs for this purpose, Shiv Kumar said.

CSS had recently acquired the UK-based Prime Apple software engaged in Lotus product development through a stock swap deal of 75,000 shares and the US-based Dry Creek Consulting involved in developing WAP (wireless application partners) applications through a stock-cum-cash deal of $3.75 million.

Further, CSS also hopes to expand the scope of its fully-owned subsidiary, Slashsupport.com, a US-based internet services company, to India. The company plans to set up domestic call-centres for the same shortly.

On Auctionindia.com, the other subsidiary company of CSS, Shiv Kumar said that the company had successfully conducted 11 auctions this year and hopes to close 50 deals by the end of 2000.

CSS, which received a funding of $1 million from ING Barings last year, clocked a revenue of Rs 1 crore during the period.