Financial Daily from THE HINDU group of publications
Monday, Jan 28, 2002
Financial Daily from THE HINDU group of publications Monday, Jan 28, 2002 |
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Info-Tech
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Software Corporate - Mergers & Acquisitions VMF Soft plans to take 80 pc stake in US firm Our Bureau
HYDERABAD, Jan. 27 VMF Soft Tech Ltd, a Hyderabad-based software firm, has announced its plans to acquire 80 per cent stake in the US-based Medical Communication Systems (MCS) Inc, a mobile computing solutions company. The stake is being acquired for a consideration of $1.2 million. While the cash component will be $5,00,000, VMF will initially pay $50,000 soon after the necessary approvals. "The rest would be paid in instalments of $1,50,000 each over the next three years,'' Mr P. Krishnam Raju, Vice-Chairman, VMF, said. He told Business Line that MCS Inc was promoted by a Boston-based NRI, Mr D.S. Desai, and specialised in mobile computing solutions for the healthcare industry. Mobile MedData is its flagship product.
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