Date:03/07/2008 URL: http://www.thehindu.com/2008/07/03/stories/2008070351521800.htm

Business - Briefly

SemanticSpace acquires Prolifics for $40 m

HYDERABAD: SemanticSpace Technologies, an IT company, has announced the acquisition of Prolifics, a New York-based system integrator, for $40 million in an all-cash deal. CEO of SemanticSpace Technologies Satya Bolli said at a press conference here on Wednesday that the company paid $26 million upfront fee and the remaining amount would be in the from of earn out over two years. — Special Correspondent