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

To: Mohan Marette who wrote (770)	2/17/2000 4:11:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT GE Capital, Intel acquire stake in Indus Software indussoft.com The Times of India News Service Feb 18,2000 PUNE: Global finance major GE Caps and the world's largest microprocessors manufacturer Intel Corporation have picked up sizable stakes in the city-based software products company Indus Software Private Ltd. Confirming the development, Indus Soft managing director Vivek Mannige said on Thursday that the two majors will together hold about 56 per cent of the company's equity. "GE Caps will hold 44.8 per cent of our equity and Intel's share will be close to 11 per cent," Mannige clarified. Indus Soft has been working closely with GE Caps for the past few years for providing software support to the various finance products offered by it. Indus has in fact a dedicated team to focus on GE Caps related work. Intel's taking equity stake in the company comes as part of its well known strategy of making ownership investments in promising Indian information technology companies. GE Caps stake acquisition is in the form of taking over the holding of venture capital company Indus Ventures, while Intel has been issued fresh equity. Mannige said the deals have been cleared by the foreign investments promotion board but declined to give details about the transaction, including valuations. Sources in the FIPB however indicated that GE Caps will acquire the stake in Indus through its Mauritius-based investment company GE caps Mauritius Equity Investments. GE Caps is learnt to have invested $ 4.39 million for 2,82,000 shares in Indus Soft. Intel's investment on the other hand comes in the form of a fresh issue of 65,150 shares for a consideration of $1 million, the sources indicated. Earlier, Mannige announced the launch of the company's latest product eSpanWorld, which is a issue-based portal to address the communication needs of managers located at different places. Mannige said the product can help reduce considerably the time used up in meetings and discussions or telephone calls as the software enables the key managerial groups to interact on-line and exchange views on any subject. eSpanWorld is designed in pure Java and can be accessed on any personal computer or palm top digital assistance equipment. The features of eSpanWorld include a To Do List, Sticky notes based Discussion Board, Scheduler and Chat option. The product is Web based one and will be marketed as a client-server environment software. Mannige said the company will soon launch the product in the US and also plans to sell it on the Internet to make it possible for the buyers to download it. He said the company expected to earn a revenue of $2 million in the year 2000-2001.