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

To: Mohan Marette who wrote (852)	2/23/2000 8:43:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT Pentamedia gets nod for $60 mil ADR issue pentafour.com (Thursday, February 24, 2000) Our Bureau in Chennai Pentamedia Graphics Ltd, formerly Pentafour Software & Exports Ltd, has obtained permission for a $60-million American depositary receipt (ADR) issue. "We will take the ADR route as and when the need arises," said V Chandrasekaran, chairman and managing director of the company. Pentamedia has also earmarked $100 million for acquisitions in the US and Japan over the next 18 months. "We have identified some companies for acquisition and the due diligence exercise is already on," Chandrasekaran said. He was speaking to newspersons after the inauguration of the company's new studio at Kelambakkam, 20 km from the city. These acquisitions will be funded mainly through internal accruals and if need be supplemented by the ADR issue, he said. Funds generated by the recent hiving-off of its software division will contribute significantly to the acquisition process. The software division has been valued at $205 million, of which 30 per cent will be paid by the acquirer -- group company PentaSoft Technologies Ltd. In keeping with the current trend, Pentamedia is also thinking of getting its stock listed on the Nasdaq or the NYSE. On Pentamedia's performance in the current year, Chandrasekaran said the company is expecting to achieve 40 per cent topline growth. The turnover for the first nine months of the current fiscal ended December 31, 1999, was Rs 290 crore. In the next three years, a turnover of Rs 1,000 crore ($218 mil) is projected for Pentamedia. Pentamedia is currently working on a range of Hollywood productions for special effects and animation valued at $100 million, Chandrasekaran said. Globally, Pentamedia is ranked number three only behind Industrial Light Magic and Walt Disney in the field of special effects and animation. Pentamedia's new studio, the first of its kind in Asia, inaugurated yesterday is equipped with blue screen and motion capture technology. The studio will cater to the creation of special effects for live action films, animation films, virtual sets, etc. "The one-stop-shop studio will offer pre-production and post-production areas in film production for the big screen, small screen and personal screen (Internet broadcasting) to create interactive 3D live content," Chandrasekaran said. -Business Standard