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

To: Mohan Marette who wrote (1114)	3/10/2000 8:58:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Satyam Infoway picks up stake in job site prizedjobs.com prizedjobs.com Our Bureau in Banglore Satyam Infoway has picked up a significant equity stake in prizedjobs.com, the website of The Head Hunters, one of India?s top executive search companies. The Head Hunters is in talks with foreign venture capital firms for additional funding. By the end of this year, The Head Hunters will be coming out with an American depository receipt and is hoping to log a market capitalisation of $1 billion. Announcing this at a press conference here yesterday, Head Hunters? managing director K Lakshmikanth said, "Until now we have restricted ourselves to top level searches but the website will bring in the numbers." prizedjobs.com will now be the exclusive jobs and career channel for satyamonline.com and hopes to leverage on Satyam?s reach to get a headstart in the huge Indian job market. prizedjobs.com hopes to grow into the sort of phenomenon that its American counterpart monster.com has become with an exclusive $ 500 m tieup with America Online for five years. Though unwilling to disclose exact figures, Lakshmikanth said Satyam had picked up a stake greater than 25 per cent in prizedjobs.com. *"Five leading corporates, Satyam Infoway, Hexaware, Datacons, Aptech, and Apcosoft* have already registered as chartered users," Head Hunters? president V Saraswathi said. Informally, The Head Hunters has been valued at around Rs 150 crore, but with Satyam coming into the picture now, the valuation is expected to zoom up even as the company is negotiating with VCs for additional funding. The Head Hunters is now focusing on moving into the Asian, European and US markets and building the brand image in a big way with substantial advertising spends in the next few years. Founded in 1987, The Head Hunters services over 150 clients including top names such as Intel, HP, Compaq and Microsoft. Key Indian clients include Arvind, BPL, Reliance Industries, and TTK Prestige**. The company's focus areas have been Internet service provider, and Internet, dotcoms, software and information technology, e-commerce, telecom, FMCG and garments. -Business Standard