Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Mohan Marette who wrote (7045)	9/21/1999 5:23:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Satyam buys 9.06 pct in U.S. firm InTouch Technologies. BOMBAY, Sept 21 (Reuters) - Indian software services firm Satyam Computer Services Ltd will buy a 9.06 percent shareholding in U.S. firm In Touch Technologies Ltd (ITTL), a company official said on Tuesday. The board of directors of Satyam Computer have approved an investment of $2.5 million in the U.S. firm which makes software for telecommunications, he said. ``Satyam has decided to make this strategic investment in ITTL with a view to get access to ITTL's customer base,' a company statement said. ``This is in line with the company's overall strategy of making investments in companies engaged in providing state-of-the-art solutions to niche markets,' it said. Analysts said the investment could help Satyam expand its range of software services from banking, retailing and manufacturing sectors. ``It should help Satyam gain a foothold in the fairly remunerative U.S. telecom software market,' an analyst at one local brokerage said. Satyam shares closed 38.40 rupees higher at 1,007.40 on the Bombay exchange on Tuesday.