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 (9584)	11/14/1999 2:05:00 PM
From: Mohan Marette	Respond to of 12475

Magic Software (Israel) to hike stake in NextStep Infotech magic-india.com Geeta Nair (fe) Pune, Nov 13: Israeli software leader, Magic Software Enterprises, is hiking its stake in its subsidiary NextStep Infotech to 51 per cent. The process is likely to be completed in one or two months. Cheqmate, developed by this venture, for the banking industry for handling all retail branch applications, modules for portfolio management and call money market has been getting good response in India. Magic of Israel held its first ever global strategy meet in India where branch head from 13 branches of Magic's worldwide operations participated. Acquisitions and focus on eCommerce and CRM solutions is the growth strategy adopted by MSE. David Leichner, vice president, marketing, MSE, said the Indian operations will witness a substantial growth of 50 per cent in manpower and resources. From 40 people last year Magic is increasing its manpower to 240 by next year. Over 100 will be recruited next year. They have acquired land at the Pune IT park at Hinjewadi and work will commence shortly.s completed the firstphase of setting up the worldwide support centre with a team of ten members. Plans to increase the bandwidth and increase capacity of communication lines.