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

To: Mohan Marette who wrote (1136)	3/12/2000 9:49:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Business Briefings Murdoch eyes up Indian IT firms- BBC news.bbc.co.uk ============= Genisys Soft buys Crystal Solutions for Rs 21 cr Agencies/Bangalore Genisys Software the UK based company on Sunday announced the takeover of the city based Crystal Solutions, Asia to create a strategic alliance. Announcing the takeover, company group chairman Ashok J Rabheru said that the company would also move into its own facility constructed at a cost of Rs 21 near the Whitefield technology park. He said that the company plans to invest Rs 100 crore within a span of 2 years in Bangalore. The company plans to acquire few more companies to integrate and strengthen their core area of application software in the area of e-service, internet and web operations. Mr Rabheru said that the company plans to export product worth $42 million by 2001 to UK and USA. The company would also be opening up a marketing set up in USA. Genisys' India operations, Genisys Integrating Systems (I) Pvt Ltd director Lingaraj URS said that the company focus was only on the export market. The company would start their operations in Middle East and Hong Kong soon. Crystal Solutions, Asia would be integrated with the Indian operations he added. -Pioneer News Service ============ India's HFCL on Acquisition Spree, Eyes Software Firms NEW DELHI, March 13 Asia Pulse - Flush with funds after divesting 10 per cent equity each to Financial Institutions and Australian media baron Kerry Packer, Telecom major Himachal Futuristic Communications is looking out to acquire software firms. The company is in the advanced stages of negotiations with a few companies to acquire listed or unlisted Indian telecom software companies to leverage its core competence in telecom business, Chairman of HFCL group Mahendra Nahata told PTI. Nahata said Rs 2,000 million of the over Rs 17 billion (US$390 million) generated by divesting equity to Financial Institutions and Kerry Packer-owned Consolidated Press Holdings had been earmarked for acquiring software companies in the telecom sector. "We would be looking for smaller software companies with good potential and capability in the telecom sector," he said, adding "HFCL has identified a few companies for negotiations". "We would not be able to acquire companies like Global Telesystems, but ideally, would be looking for Subex Systems or firms of smaller size," he added. The current spree of acquisitions have been negotiated directly by the company, but a merchant banker would soon be appointed for further acquisitions, he added. (PTI) ============= India's Kale Consultants Ties up With Jade of NZ for E Commerce MUMBAI, March 13 Asia Pulse - IT solution provider Kale Consultants has signed a partnership agreement with New Zealand-based software company JADE to develop software solutions for implementing e-commerce strategy. The partnership would also help their clients to migrate from legacy systems to state-of-art internet technologies in a cost efficient manner, a company statement said here. Kale has been providing solutions to airline, healthcare and banking sectors for the last ten years and JADE builds object-oriented software for transaction based enterprise development, particularly useful for high volume Web applications, it added. (PTI) ===========