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Swiss bwv AG picks up 51% stake in All-e Tech
Ashu Kumar
New Delhi : Switzerland-based direct marketing and information technology group, bwv AG has picked up majority stake in a Delhi-based infotech company, All-e Technologies for an undisclosed amount. The bwv group, which is a part of the $500 million GFK group of Germany, has business interests in direct marketing, business databases, product catalogues and infotech. The group has picked up a 51 per cent stake in All-e Technologies to create a software development base and skill resource centre for its software requirements. Moreover, the Indian company will also be free to sell its product and services in the global market. While talking to The Financial Express, the chief executive officer of All-e, Mr Ajay Mian said that the company was setting up a subsidiary in the US and looking for a US-based strategic partner for market access.He said that the company is already designing and developing software solutions in eCRM space for bwv and plans to capitalise on its acquired domain knowledge and solutions in the US market. "We are open to the strategic as well as equity partnership from a US company to set up our operations the country," said Mr Mian. Mr Mian is also the original promoter of All-e and currently holds 49 per cent stake in the company. He said that the company which was incorporated early last year, has already invested around Rs 1 crore in setting up development facility at Noida with a capacity of around 50 seats, which will be upgraded to 150 seats within a year. The company has total investment plan of Rs 2 crore for Indian development centre. Mr Mian said that as per the understanding with bwv group, all bwv group companies will outsource their software requirement to All-e and will help with their domain knowledge in designing and development of the product. The Indian company will be free to market its solutions andservices in any other market worldwide, he added. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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