Date:12/01/2006 URL: http://www.thehindubusinessline.com/2006/01/12/stories/2006011202330400.htm

Back SRIT to buy IP rights

Our Bureau

BANGALORE: Sobha Renaissance Information Technology Pvt Ltd (SRIT) has entered into an agreement with Australia-based Ortex Global Solutions to acquire the latter's intellectual property rights (IPRs) and about 1,000 installed bases of its software products for an undisclosed sum.

The agreement had taken effect from December 10, 2005, and the actual cost of acquisition would be announced in February, by when SRIT expects the IPR transfers and knowledge transfers to be completed, said Mr Madhu Nambiar, CEO, SRIT, in a press release.

Ortex has software products and solutions in the electronic document management space.