Satyam to invest in US healthcare software

CIOL Bureau
New Update

MUMBAI: Satyam Computer Services Ltd. said on Monday it will invest one

million dollars for a seven per cent stake in MedBiquitous Services Inc, which

provides software services to online communities in the healthcare industry.


Besides the investment, Satyam will also provide onsite and offshore software

development services to the US-based firm. Satyam sees committed business worth

$20 million over the next five years, it said in a statement.

The Hyderabad-based Satyam, which is India's fourth-largest software

exporter, also has an option to increase its investment to $2.5 million for a 14

per cent stake in the firm, it said.

Satyam's shares were up 1.3 per cent at Rs 144.25 at the Bombay Stock

Exchange in afternoon trade while the benchmark exchange index was up 0.44 per