Financial Daily from THE HINDU group of publications
Monday, Jan 30, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 30, 2006 |
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Info-Tech
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Mergers & Acquisitions Nettlinx India buys US firm Our Bureau
Hyderabad , Jan 29 NETTLINX Ltd has decided to acquire 100 per cent equity capital of Nettlinx Inc USA. It will also invest about $1 million in business development and networking. The board of directors of Nettlinx Ltd, headquartered in Hyderabad, has approved the acquisition plan, according to a company release. Nettlinx Inc, incorporated in New Jersey, US, is engaged in the business of software development and onshore consulting in the field of server consolidations and support services. With this acquisition, Nettlinx Inc becomes a 100-per cent wholly owned subsidiary of Nettlinx Ltd. Post-acquisition, Nettlinx proposes to ramp up US operations, Nettlinx Ltd is listed on the Mumbai and Hyderabad stock exchanges. During the nine-month period ended December 2005, it earned revenues of Rs 256.37 lakh.
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