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Servion buys 5by5 Networks

CHENNAI: Servion Global Solutions, engaged in providing customer interaction management solutions, said it had acquired 5by5 Networks Inc., a privately held U.S.-based technology company, for an undisclosed sum in an all-cash deal. Addressing a press conference here on Wednesday, K. Balakrishnan, Managing Director and Chief Executive Officer, said Servion had acquired 5by5 by buying out the venture capitalists. Athenian Venture Partners and GMG Capital Partners were the main shareholders in 5by5, he said.

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