Discussion Forum

Search
The Indian Express

The Financial Express

Latest News

Screen

Express Computer
Feedback
Corporate Results

Expresswheels

Travel

Matrimonials

Careers

Lifestyle

Astrology

E-Cards

Columnists

Graffiti

Crossword

Letters

Environment

Jewellery
Info-tech

Power

Steel

Global Tenders

Filmtvindia

In association with Amazon.com

Books Music

Enter keywords


INDIAN EXPRESS FRONT PAGE

Politics

Business

Expressions

General

World

Sports

Leisure

States

 

Monday, June 28, 1999

Sivasankaran picks up stake in Compunnel

AMEER SHAHULNEW  
DELHI, JUNE 27: NRI businessman C Sivasankaran has acquired 40 per cent stake in the Noida-based software company, Compunnel, engaged in developing computer/web based training (C/WBT) programmes for an undisclosed amount.The deal signed last week had brought down the promoter's equity from 91 to 51 per cent with nine per cent being held by employees in the cash rich company, top Compunnel officials said today. The deal has been struck in the name of Sivasankaran's Chennai-based company 'Sterling Infotech,' which is engaged in software business.Sivasankaran's move to pick up stake in Compunnel assumes significance as he had set up last month a firm in California, Fitme.Com, to offer a first-time world service that will enable customers around the world to shop for dressing material using an identification number.Consequent to the buy-out, Vijay Bhatkar, president of Dishnet Limited, the internet company promoted by Sivasankaran and the former executive director of centre for development of advanced computing(C-DAC), will join the board of directors of Compunnel in a few days, sources said.

Compunnel Software has been a profit making company for the last five years and had even reported that it would be going public soon. It had identified internet and intranet based training applications as key areas.Compunnel was set up in 1994 as an Indian arm of Compunnel Software Group, USA, which was rated number one among the 40 fastest growing private companies in America. It has software development centres in Noida and Bangalore. It also has a full-fledged multimedia studio, a fully equipped web publishing studio and over 100 full-time technical experts. The company's major customers include Airtel, Bharati BT, Escotel, Modicorp, besides Best Foods in Singapore, Dialog Median in Germany, Infoprocorp and Sandoz in USA. Fitme.Com will soon launch a service that enables customers to buy clothing of specific measurements from anywhere in the world through internet . The service will also scan and store body dimensionswith the help of a full body scanner.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


Top



Phone Cards: 44c a minute to India


 

Click here for a printer-friendly page Printer-friendly page

India Gift House: Send gifts all over India



EXPRESSindia.com
News   Business    Sports   Entertainment
The Indian Express | The Financial Express | Latest News | Screen | Express Computers
Travel | MatrimonialsCareersLifestyle | Astrology
E-Cards | Graffiti | Environment | Jewellery | Info-tech | Power