Thursday, Jun 24, 2004
Thursday, Jun 24, 2004 |
| Business | ||||
|
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Advts: Classifieds | Employment | Obituary | Business
By Our Staff Correspondent
CHENNAI, JUNE 23. Cybernet Software Systems (CSS) Group has decided to spin off its $ 5 million software products division, Synaptris Decisions, into a wholly owned subsidiary. The objective is to make it a pure-play product company. Synaptris Decisions, at present has a portfolio of three products in the reporting and business intelligence space. It may be recalled that ING Bearing had initially invested $ 1 million in CSS and will have the first right option to invest in Synaptris Decisions. ING Bearing had also invested $ 6 million in one of CSS group companies, Slashsupport. CSS had also hived off two companies within the group, Slashsupport, an advanced tech support company, and ReadyTestGo (RTG), a software testing services company.The Founder of CSS Group, Shiv Kumar, told the press that Synaptris was planning to appoint a CEO within 3-6 months. As part of the spin off exercise, 90 employees from CSS would move into Synaptris, he added.
Printer friendly
page
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2004, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
