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Hyderabad, Sept. 6

GSS America Infotech has announced that the company board earlier this week considered the status of the due diligence of the impending acquisition of a company with revenues of over $100 million. It also approved authorisation to raise additional funds. In a statement, the company said as planned, the proposed acquisition will be funded through internal accruals and IPO funds and without any further dilution of equity. While taking into consideration further plans for ino rganic growth, the board approved fund raising plan of up to $75 million at appropriate time.

— Our Bureau

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