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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (234)	11/26/1999 2:22:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Special Effect:US Venture puts Satyam back in the limelight Pinball Wizard -ET SATYAM Computers, in preparation of a Nasdaq listing next year, is getting its act together. The corporate recently entered into a 50:50 joint venture with the $1bn Venture Industries of the US. Venture provides engineering solutions to automobile majors in the US, and this JV would help open up a new window of growth for Satyam Computers. The start-up equity of the new company, Satyam Venture Engineering Services (SVES) has been placed at $2m. The deal is in line with Satyam's strategy to gain vertical domain expertise in new segments. This is borne out by the fact that Satyam has had successful joint ventures with Dun and Bradstreet, GE and Touch Technologies for entry into the banking, financial engineering and telecom services. SVSE will specialise in providing computer-aided design (CAD)/computer-aided manufacturing (CAM) services for the automobile majors. This is likely to be driven by Venture Industries' strong clientele and rich domain expertise in the CAD/CAM segment. SVES is likely to commence operations in mid-December with most of the off-shore development being done at Satyam's facility in Hyderabad. Nearly 300 employees are likely to be hired by this venture over a period of three years. On a different plank, Satyam's Internet subsidiary, Satyam Infoway too has entered into a 50:50 JV with Bank of Madura. The new venture christened ties2india.com will provide financial and investment services in the property segment to NRIs dispersed across the globe. Ties2india.com will be setting up its own portal in this regard soon. The recent surge in the Satyam Infoway scrip has been driven purely on the back of this development, as Infoway will no longer be an ISP but a full-fledged portal a la Amazon. The Satyam Infoway scrip and the Satyam Computer scrip are thus likely to fare well on the bourses. economictimes.com