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

To: ratan lal who wrote (9074)	10/28/1999 1:54:00 PM
From: Mohan Marette	Respond to of 12475

InfoSpace.com buys firm, sets India launch Ratan: Now this here guy is a desi boy, I have made money with this 'homie' as well, not much but still.<g> ============================ Thursday October 28, 1:31 pm Eastern Time BOMBAY, Oct 28 (Reuters) - InfoSpace.com (NasdaqNM:INSP - news) said on Thursday that it will launch an Indian subsidiary following its acquisition of U.S.-based Zephyr Software Inc. The Internet information services company said in a statement that Zephyr Software (India) Private Ltd, a wholly-owned unit of the Redmond-based Zephyr, will become Infospace.com India. ``Under the terms of acquisition, which will be accounted as a purchase, InfoSpace.com will exchange approximately 166,956 shares of common stock for all of Zephyr Software Inc's outstanding shares warrants and options,' it said. The acquisition of Zephyr, which specialises in Internet portals aimed at the worldwide Indian community, is expected to be completed by November subject to Indian regulatory approvals, it added. ``The company expects to launch InfoSpace.com India (www.infospaceindia.com) in early Q1 (first quarter) 2000 to provide India websites and wireless devices with comprehensive first-of-its-kind localised consumer, merchant and wireless services... .' the statement said. The services will include people and business finders, classified advertisements, news and stock quotes, it added. InfoSpace.com, founded by Indian-born chairman Naveen Jain, said the venture was part of its moves to expand into emerging markets. The Indian venture is expected to open the doors for opportunities in the Asia-Pacific region, the statement said.