Financial Daily from THE HINDU group of publications
Saturday, Aug 28, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 28, 2004 |
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Info-Tech
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Software Aftek plans to consolidate European biz Our Bureau
Mumbai , Aug. 27 AFTEK Infosys has firmed up plans to consolidate its European business through a concentrated foray in the Internet search engine business. The Internet advertising opportunity generated as a result of web search is expected to be around $7 billion, of which the European Internet advertising market alone is estimated at $2 billion. Aftek owns 49 per cent stake in Munich-based Arexera, which has a majority stake holding in Seekport Internet Technologies GmbH. Seekport will open its subsidiary in France shortly followed by operations in the UK. While Seekport is expected to break even this year, Aftek expects the success of Arexera and Seekport to translate into revenues for the Mumbai-based software provider over the coming year. Other plans include Seekport providing indexed pages for the UK, Scandinavian countries, Spain and Portugal regions. "We have been successful in the Internet search engine business in Europe with Seekport's German indexed pages practically three times bigger than Google and Yahoo!. Seekport has 125 million indexed pages (in German). We plan to take this further with indexing of the European region," Mr Promod Broota, Marketing Director, Aftek Infosys, told Business Line.
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