Advertisment

Net4 India to invest $16m.

author-image
CIOL Bureau
New Update

BANGALORE: Infotech venture Net4 India has set aside Rs 700 million (US$16.06 million) for investment in India, of which Rs 150 million would be used for acquiring companies with related business potential and opportunities. For this purpose, the company has identified and is evaluating around 20 companies in various Net business areas, said a senior Net4 India official.



"We are studying performance and market valuations of about 20 companies at present and it will take up to six weeks to finish this evaluation," Net4 India chief executive officer Jasjit Sawhney said, after launching domain venture 'Net4Domains.com. "We're not going to acquire all of these 20 firms, but a final decision on the firm and its price could take up to six months," he added.



The company has firmed up plans to invest up to Rs 700 million in India within this year, he said, adding interest areas would include Business-to-Business (B2B) Internet solution services. As an initial step, Net4 India has launched its domain name registration venture Net4Domain.com that is targeted at the home, small and medium enterprises (HSME) market. "Domain name registrations are expected to go up exponentially this year and India is one of the biggest markets in Asia-Pacific region, growing at an astounding 267 per cent," Sawhney said adding that 89,000 registered domain names were recorded in 1999.

tech-news