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

To: Mohan Marette who wrote (982)	3/1/2000 9:50:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT GE Capital & Intel pick up stakes in Indus Software indussoft.com Mar 02, 2000 CH Unnikrishnan Pune: GE Capital Services India, the Indian arm of the global financial major, has bought out the entire equity held by Indus Venture in Pune-based Indus Software. This has given GE Caps a 44.8 percent stake in Indus Software. Moreover, the company has issued fresh equity of almost 11 percent to chip giant Intel. The Foreign Investments Promotion Board has already cleared the deal, according to a source in the company. Though sources in the company declined to reveal the valuation of the deal, it is learnt that GE Caps' investment in the company amounts to almost $4.90 million for 282,000 shares. Intel has reportedly invested around $1 million for a fresh issue of 65,150 shares in the Pune-based company. Intel has picked up stakes in at least 10 other Indian companies as part of its global investment gameplan. Indus Software has been closely associated with GE Caps for quite some time, as it is involved in developing many custom made financial packages for the latter. According to sources, Indus has an exclusive team for providing software support to GE Caps for various finance schemes introduced by the global financial major. A financial software developer, Indus Software has developed and marketed a range of banking software -- Lending Solution from Indus (LSI), Loan Appraisal System for the Internet (LASI), and Finance Against Securities System (FASS) -- apart from custom software projects undertaken by the company. Indus Software is planning to launch a management communication portal -- eSpanWorld.com. This is an issue based collaboration portal that enables managers based in various sites working on a common project to communicate. The product, according to Vivek Mannige, Managing Director of Indus Software, uses the 'sticky note'-based discussion board that links to a comprehensive to-do list. According to the company, this can significantly reduce the time spent on discussion by limiting meetings only to critical matters and decision making. -Express Computer