Advertisment

Intel invests $20m in Nipuna

author-image
CIOL Bureau
New Update

HYDERABAD:Global chipmaker Intel is investing $20 million in Nipuna, the BPO subsidiary of Satyam Computers.



Satyam Computers, in a filing with the Securities and Exchange Commission (SEC), said that Intel is expected to invest $20 million in Nipuna in return for convertible preference shares, which can be converted to 20 percent -25 percent of Nipuna’s equity share capital on a fully diluted basis.



The investment is routed through Intel’s venture capital arm Intel Capital. Currently, Satyam is seeking the requisite regulatory approvals.



Satyam decided to cap its investment in Nipuna at $4 million-- which was the initial investment it set up Nipuna with in 2002 -- and had announced its plans to opt for strategic investor route this July.



Nipuna has six customers, employs 164 people and its projects are in an initial ramp-up stage. In the last one year the company had a turnover of Rs 1.3 crore and posted a loss of Rs 3.5 crore.



(CNS)

tech-news