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Thursday, November 16, 2000
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India's
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Webtech picks up 10% stake in Wintech
Our eFE Bureau
Mumbai : New York based Webtech Inc has taken a 10% stake in Wintech Computers for an investment of $12 million. Wintech, an Internet training company will serve as Webtech's training associate in India. Webtech is basically into software development as well as R&D and IT placements.Wintech also has an IT placement cell. Announcing the deal at a press conference, senior company officials also said that Wintech plans an IPO by April 2001 but were unwilling to disclose the size of the offering or where the company is likely to be listed.Wintech plans to utilise the investment from Webtech to open 300 additional training centres in India by March 2000. Wintech will also provide customised courses as per the requirements of Webtech as well as the companies to which it will be supplying manpower. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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