Satyam to invest in US healthcare software

By : |October 28, 2001 0



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
cent.

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