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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 11.07

+1.7%

Nov 28 12:59 PM EST

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To: Mohan Marette who wrote (871)	2/24/2000 4:35:00 PM
From: Mohan Marette	Read Replies (1) of 1471

OT Sonata in talks to buy US portal (Friday, February 25, 2000) Baiju Kalesh in Mumbai Bangalore based Sonata Software Ltd is in negotiations with Health Systems Designs of the US for acquiring the later. Health Care Designs operates a health care portal in the US. Sources said the proposed acquisition is part of Sonata's plans for forward integration. Sonata Software has been designing the healthcare portals for many of the US companies, sources added. Industry sources familiar with the deal said "if the deal goes through the acquisition cost is valued at around $50 million." DSP Meryll Lynch, the Mumbai-based merchant banking is negotiating on behalf of Sonata Software Ltd. Sonata managing director & president B Ramaswamy and company vice-president (finance) Thomas K Joseph are in the US to finalise the deal, sources said. The deal is expected to be signed this week or early part of next week, sources connfirmed. Sonata Software officials in Bangalore confirmed the information on the both the managing director and vice-president (finance) are in the US and hence were not available for comment. However, the assistant vice-president (finance) & company secretary N E Benezer Devasahayam, said "I have no inputs regarding the matter and hence I have no comments on the development. I am bound by the regulatory constraints from speaking on the matter and hence I am neither denying it nor subscribing to it." -Business Standard

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