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This is an archive article published on April 8, 2000

NetAcross Online Solutions merge, to list on Nasdaq

MUMBAI, APR 7: Netacross Ltd and Online Solutions have merged to form a Rs 13 crore web consulting company in a stock swap deal late on Th...

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MUMBAI, APR 7: Netacross Ltd and Online Solutions have merged to form a Rs 13 crore web consulting company in a stock swap deal late on Thursday. The merged entity will list on the Nasdaq in around six months to raise $ 50 million to $ 100 million, becoming the first web consulting company from India on the bourse. Arthur Andersen Corporate Finance, which structured the deal, has been retained for the valuation of the new company, NetAcross Online Solutions.

Around sixty per cent of the revenue of the new entity is from overseas clients. The merger gives the company a faster ramp-up and an edge over its competitors in India – Planetasia, Plexus, NetKraft and DBS Internet. The firm also plans more acquisitions, overseas and domestic. "The game is speed. We will look at acquiring smaller companies in India who don’t have the ability to scale upwards," said Sanjay Hinduja, director of Online Solutions.

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