Financial Daily
from THE HINDU group of publications
Saturday, December 09, 2000
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Financial Daily from THE HINDU group of publications Saturday, December 09, 2000 |
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Bathina Tech acquires US firm
HYDERABAD: Bathina Technologies (India) Ltd (BTIL), the Hyderabad-based software solutions company, has acquired two companies into the software development -- the US-based Silicon Software Solutions and the Hyderabad-based SIT Systems.
In a communique to the stock exchanges, the company stated that the acquisition of the US company was done through a stock deal at a consideration of $1 million.
BTIL had earlier entered into a memorandum of understanding with the Virginia-based company for jointly executing a $14.8 million knowledge-based portal on B2B knowledge domain.
The company has informed the exchanges that it has acquired a Hyderabad-based proprietary concern, SIT Systems, for a consideration of Rs 20 lakh through stock swap deal.
SIT Systems is into the business of manufacturing hardware and developing hospital management software. -- Our Bureau
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