Sonata acquires US firm

BANGALORE: Indian computer software firm Sonata Software Ltd. on Monday said

it had increased its ownership of the US-based software firm Offshore Digital

Services Inc (ODSI) to 100 per cent from 46.67 per cent. "The proposal is

in line with our strategy to strengthen our marketing in the US," Sonata

president and managing director B Ramaswamy said in a statement.

"The wholly owned subsidiary will serve as the marketing arm as well as

the project co-ordination hub for customers in the US," he said.

The statement did not give financial details.

It said that Sonata had in 1998 acquired a 46.67 per cent stake in ODSI and

had taken over the management of the company with regard to software development

and consulting services.

California-based ODSI, which currently employs 130 professionals, has also

worked with Sonata in marketing Sonata's software services, the statement said.

"We believe with this decision we can invest more aggressively in

leveraging ODSI's current strengths in expanding the client base and also in

offering an expanded portfolio of software services," Ramaswamy said.

Sonata shares closed 4.4 per cent higher at Rs 690.55 on Monday ahead of the

announcement, while the benchmark Bombay index ended 1.44 per cent up at

4,409.57 points.

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