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

To: Mohan Marette who wrote (863)	2/24/2000 8:32:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Satyam's Acquisition Plans Pondered By Hari Menon India Correspondent, Asia.internet [February 24, 2000--MUMBAI] Satyam Infoway, India's largest private ISP, is considering buying out some leading Indian portals. "We are looking at some of the leading portals in the country," said B. Ramalinga Raju, chairman of Satyam Computer Services. "The acquisitions or strategic partnerships will happen only after the payment for Indiaworld [acquired recently] is complete," he added. "We have time till June next year to make the payment," claimed Raju, stressing that the company may also consider strategic tie-ups and equity partnerships with portals. However, he refused to divulge the names of the domestic portal companies that Satyam is considering for takeovers and tie-ups, because the deals were not yet finalized. Raju confided that Satyam was looking at acquiring companies that will aid its business growth, saying, "Globalization is a key part of our growth agenda; so we intend to start more development centers abroad, in addition to the 30 that already exist." The company has identified Australia, Southeast Asia, the Middle East and South Africa as potential regions to set up these development centers. As part of its local development strategy, the company would also open more development centers in India. There are currently five development centers in the country. Satyam, which will continue to concentrate on e-commerce and related activities, is already preparing to set up cyber kiosks in gas stations all over India. Satyam Infoway is the second largest national provider of Internet access and services to consumers and businesses, with more than 129,000 subscribers in 34 cities and towns in India. Apart from Internet access, Satyam also offers a portal, and corporate network and technology services. The portal Satyam Online covers areas such as travel, finance, health and shopping.