SONATA TO BUY OUT PARTNERS' HOLDINGS IN US SUBSIDIARY

Article Abstract:

Sonata Software Ltd has decided to buy out stakes in its US subsidiary, Offshore Digital Services Inc (ODSI), based at San Leandro, California, from its two partners. It will buy 46 percent stake from Indian Organic Chemicals Ltd and 10 percent stake from Hunt Railton International. Sonata currently has 44 percent stake in ODSI. With these acquisitions, ODSI will become a wholly owned 100 percent subsidiary. ODSI was set up in 1993 and is currently making loss. It has an equity capital of $300,000. Sonata has long term plans to promote ODSI. ODSI will act as Sonata's marketing agent. Sonata will execute the orders procured by ODSI in its Bangalore development centres.(um)(psr)

Acquisitions & mergers, Foreign operations, Computer Systems Design and Related Services, Contract Software & Services, Software support services, Sonata Software Ltd., Offshore Digital Services Inc., Organic Chemicals Ltd, Hunt Railton International

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US COS TO BUY STAKE IN SRG

Article Abstract:

Two information technology companies of USA are interested in acquiring stakes in SRG Infotech (SI) of Delhi, a software company. These companies have offered a premium on the share value of SI. The acquisitions will enable SI to raise funds for increasing its software business. The US companies expect good growth as SI has succeeded in the share transfer, software development, computer education and bulk data processing businesses. In 1997-98, SI posted sales of Rs32 crore. (ag)

India, SRG Infotech

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