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

To: Mohan Marette who wrote (1327)	3/22/2000 4:29:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT Net Solutions to take Sibar stake Our Bureau MUMBAI, March 22 THE US-based Net Solutions.com is picking up a 16 per cent stake in Sibar Software Services (India) Ltd. Net Solutions will acquire 20 lakh shares at the rate of Rs. 150 per share aggregating at Rs. 30 crores. Sibar will issue fresh equity on a preferential basis, according to company officials. Sibar is a listed company in the Mumbai and Hyderabad stock exchanges, and has entered into a strategic alliance with Net Solutions to become a global organisation. This alliance will enable Net Solutions to utilise Sibar's development centre in India based on its customer requirements. Sibar can conduct research and development on Net Solutions products in its development centre under the guidance of Net Solutions technical staff. Speaking to press persons, Mr. M.R. Anil Kumar, CEO of Net Solutions.com, said the alliance would benefit both the companies. Mr. Prasad Lingamaneni, Managing Director of Sibar, added that with this alliance Sibar had reached out to a larger market and with additional funds, the company now had a tremendous growth potential. -Business Line