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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4761)	6/28/1999 4:54:00 PM
From: Lee	Read Replies (2) \| Respond to of 12475

Hi Mohan,..Re:.Fed & stuff Is it o.k. to ask someone to continue a fed discussion here rather than the dedicated thread it's currently on? Thanks, Lee

To: Mohan Marette who wrote (4761)	6/28/1999 9:12:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Intel buys 20% in Madras (Chennai) based Avigna Tech Avigna Tech Website: avigna.com ========================== (Courtesy:ET) KP Senthil Kumar CHENNAI 28 JUNE INTEL Corporation, the US-based microchip major, has picked up close to 20 per cent stake in the Chennai-based Avigna Technologies Private Ltd. This is the third Indian company in which Intel has made substantial equity investment in recent times. Earlier, it had picked up stake in the Mumbai-based company Rediff On The Net and recently in the Bangalore-based Networking Solutions. When contacted by The Economic Times, Shobha Ponnappa, managing director, Avigna Technologies, confirmed the news of Intel's investment, but refused to divulge the details. However, it is learnt that Intel has invested a little over Rs 2 crore, including a hefty premium. The price paid for each share is not known. Avigna Technologies, which was set up in 1996, is a leading developer of multimedia, interactive and web-technology projects. It has a high-profile client list including Hindustan Lever, Pond's, Smithkline Beechem and Ford. The company has also been working with a number of foreign players. According to sources, the investment in Avigna Technologies has been routed through a venture capital fund, belonging to Intel's 100 per cent subsidiary—Intel Asia Electronics Incorporated. The fund, which is focusing on three countries in Asia including India, has proposed to invest in at least 10 Indian IT companies within this year. Intel's strategy is aimed at helping the industry grow through investments. The focus would be on promoting the IT awareness campaign in the country. Last year, Intel's venture capital fund invested about $300m in various knowledge-based companies.