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DQI Bureau
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Microcon receives $ 1.8 m for expansion

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Bangalore-based Microcon International has raised $ 1.8 million to finance its expansion into the wireless internet and mobile commerce markets. The funds are being provided by Schroder Venture Asia Pacific Fund. Microcon company is setting up a mobile commerce division to develop tools and services that will help business exploit mobile commerce. The company has an international Client base and develops systems and solutions in the areas of interactive simulation. Internet communication and intelligent manufacturing.

CR2 acquires Interlink

Dublin, Ireland-based internet banking service provider CR2 Group has Acquired UK-based Interlink, along with Interlink’s regional offices. The Indian Subsidiary been acquired for $12.2 million. Interlink is a global provider of banking channel software for automatic teller machines and point-of sale devices, electronic payments and card management. The acquisition of Interlink and its subsidiaries across India, Africa, the Middle East and Asia-Pacific rim has accelerated CR2’s global expansion plans with a readymade international infrastructure. The regional network covers 90 customers in over 70 countries worldwide and is a key component behind CR2’s aim to become the leading global internet banking and channel delivery solution provider in the marketplace. Ron Downey, joint CEO, CR2 commented, “the acquisition of Interlink significantly adds to our global reach as international organization.

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ICICI, Emirates Bank to Float IT venture

ICICI Infotech Services, a wholly owned subsidiary of ICICI and Emirates Financial Services, a company of the Emirates Bank Group are setting up Tricolour Infotech International Inc (T3i) a joint venture It and ecommerce services company. The JV will offer software development, consulting and IT enabled services to the Middle — East markets.

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The JV, to be incorporated in Mauritius, will have its first operational office in Dubai, and will subsequently expand its business to other locations in the Middle —East. ICICI Infotech and Emirates Bank Group will together hold at least

80% of the paid up capital of the venture company. The company will have an authorized share capital of $ 5million divided into five million equity shares of $1 each, KV Kamath, MD and CEO, ICICI said, “This joint venture marks ICICI’s first foray into the global market. The venture is a reflection of our expertise and experience in the technology arena.”

Microland to merge with Planetasia.com

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Microland Software Solutions (MSS), a Microland group company, has announced its merger with Planetasia.com, a global internet professional services company. The merger is subject to shareholder’s approval.

Anand Sudarshan, CEO, Planetasia.com said “MSS has a deep understanding of the internet and ebusiness models, apart from having some of the leading names as its clients, so we feel that this will add tremendous value to Planetasia.com.”

Through this merger, all the 180 employees of MSS will become employees of

Planetasia.com and will be entitled to employee stock options of the latter. The merged entity is projecting total revenues of $18 million by the next fiscal year.

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