NICCO TO REVAMP SOFTWARE BUSINESS IN US, EYES UK
Article Abstract:
The Nicco Group of Calcutta has restructured its software business and set up a separate company called Nicco Infotech Inc in New, Jersey, USA. The company is a joint venture with the Nicco Group holding a 49 percent stake while Taib Bank of Bahrain will hold a 51 percent stake. A management contract has been signed with the investment bank, under which the Nicco Group will continue to mange the operations of the overseas software company. Taib Bank will help Nicco Infotech Inc in enhancing its equity base and get a listing on the NASDAQ by 2000 AD. The company provides onsite consultancy and project development services to clients like the American Bureau of Shipping, AT&T, MTV, Lucent Technologies, Nynex, Chase Manhattan Bank, CableVision, Compaq and HCL. The Nicco Group also plans to start operations in the UK through a subsidiary. (khr)
Comment:
Restructures its software business & sets up a separate company called Nicco Infotech Inc in New Jersey, USA
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SONATA PLANS ACQUISITIONS IN US
Article Abstract:
Sonata Software (SS) plans to acquire companies in USA in the next 18-24 months. It plans to acquire information technology consulting and product companies in USA. SS plans to raise its stake in Offshore Digital Services, its subsidiary in USA, to 100 percent by March 1999. It also proposes to float an initial public offering of Rs18.91- 22.70 crore in November 1998. It plans to float 25.22 lakh equity shares of Rs10 each at a premium of Rs65-80 per each. SS recorded net sales of Rs54.15 crore and a net profit of Rs4.4 crore in the 6 months ended September 30, 1998. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HCL PLANNING IPO IN US, TO CONSOLIDATE GROUP COs
Article Abstract:
The HCL Group proposes to make an $100 million Initial Public offering (IPO) in the US. The public issue will enable the company to be listed on the American stock exchange, NASDAQ. All the software companies of the group outside India, excluding NIIT will be consolidated into a single holding company. This holding company, HCL Technologies or Consultancy will be based in the US. HCL has appointed Wall street investment bankers, Donaldson, Lufkin and Jennette as the lead managers to the offer while the ICICI Securities will be the domestic advisor. (vv)
Comment:
Proposes to make $100 mil initial public offering in the US
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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