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This is an archive article published on November 27, 1999

US firm acquires Chennai-based software co.

NOVEMBER 26: Even as Indian software companies are talking about acquiring companies in the west, a little known California-based Again ...

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NOVEMBER 26: Even as Indian software companies are talking about acquiring companies in the west, a little known California-based Again Technologies8217; has acquired Chennai-based Software House8217; for an undisclosed amount.

The acquisition, finalised by the two companies yesterday in California, is one of the first take-overs of an Indian software firm by a US company, Gopi Mattel, chief executive officer of Again Technologies told PTI here.

He, however, did not give details of the acquisition including valuation of the assets. The Chennai-based firm would now be converted into the subsidiary of the US firm and would be known as Again Technologies India Ltd8217;.

Consequent to the acquisition, the human resources of the Indian subsidiary would be more than doubled and the operations would be streamlined to meet the demand for round-the-clock development efforts, Mattel said.

Software House which has been undertaking projects for Again Technologies for the last three years would now be its primary worldwide development centre.

Again Technologies is founded in 1995 with the help of venture capital support from Artemis Ventures8217; and has developed a product named Compsense8217; which is used for distribution of variable pay.

 

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