CYBERTECH EYES SMALL SOFTWARE COMPANIES IN INDIA

Article Abstract:

CyberTech Systems and Software (CSS) has evinced interest in acquiring smaller Indian software companies. CSS is the subsidiary of CyberTech International Corporation (CIC) of the US. The new companies should either be listed or privately held and unlisted. CyberTech plans to acquire companies with revenue of Rs5 crore-Rs15 crore. The decision follows infusion of Rs55 crore in CSS by CIC through preferential allotment of equity shares at a premium of Rs100 per share. The company is also setting up a software development centre at Mumbai at a cost of Rs21 crore. (uh)

Strategy & planning

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SDRC TO ACQUIRE IMAGEWARE CORPORATION FOR $31 MILLION

Article Abstract:

Structural Dynamics Research Corporation (SDRC), a global software company, has taken over Imageware Corporation at Ann Arbor, Michigan. SDRC has acquired Imageware Corporation for $31 million. Following the acquisition, the Indian subsidiary of Imageware will be amalgamated with a wholly owned subsidiary of SDRC. The acquisition is expected to boost SDRC's plan of increasing its base in India. SDRC plans to invest $4 million per annum on its Indian subsidiary during the next few years. It also will be using the funds for opening offices in Chennai and Mumbai. (ag)

General services, Structural Dynamics Research Corp., SDRC, Imageware Corp.

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CYBERTECH INTL TO ACQUIRE MAJORITY STAKE IN CSSL

Article Abstract:

Cybertech International Corporation (CIC) of the US will acquire a majority stake in Cybertech Systems and Software Ltd (CSSL) for $13.8 million. CSSL has issued 5,256,500 equity shares at a premium of Rs100 per share through a preferential allotment to CIC. CIC's stake in CSSL now stands at 51 percent. CSSL plans to invest Rs20 crore in a software development centre at Thane. It also plans to set up a software complex at Hyderabad followed by centres at Chennai and Delhi. (khr)

Comment:

Will acquire a majority stake in Cybertech Systems & Software for $13.8 mil, India

Foreign operations, Article, CyberTech International Corp.

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