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Article: INDIA'S HCLT PICKS UP 19% STAKE IN US-BASED AALAYANCE INC.
- Article from:
- AsiaPulse News
- Article date:
- January 20, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW DELHI, Jan 18 Asia Pusle - HCL Technologies (BSE:HCLT) said it has acquired 19 per cent stake through an issue of additional equity for $0.45 million in US based Aalayance Inc.
A HCL release Friday said the balance stake may be acquired at a later stage in the next 4 to 5 years subject to the achievement of specified revenue milestones at a valuation based on the profitability parameters of Aalayance.
SSKI Corporate Finance Private Ltd advised HCL Technology on the transaction, it said.
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