Financial Daily from THE HINDU group of publications
Friday, March 3, 2006
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Financial Daily from THE HINDU group of publications Friday, March 3, 2006 |
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News Update as at 18.00 hrs (IST)
Info-Tech KOLKATA: Computer Associates (CA) International of US has decided to exit from the joint venture floated with The Chatterjee Group (TCG) as the firm has set up its own development centre at Hyderabad in India. The Director marketing of CA India Private Limited, Mr Pravir Arora, told reporters here today that the modalities of the exit were now being finalised and would be completed shortly. The joint venture, CA-TCG, was formed in 1999 for software development at the Salt Lake electronics complex near Kolkata. Mr Arora said that since CA was unable to transfer technology to CA-TCG due to intellectual property (IP) issues, the company has decided to set up its own development facility in India. Subsequently, CA set up a software development centre in Hyderabad, which has already become the largest one outside the US. In the joint venture, CA has 51 per cent equity, while the balance is held by TCG. - PTI
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