Nipuna gets $20 M investment

By SiliconIndia   |   Thursday, 24 July 2003, 07:00 Hrs
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HYDERABAD: Satyam Computer Services announced today that it has mopped up $20 million in investments in its BPO subsidiary Nipuna Services.

An agreement to this effect has been signed by the funds, Nipuna and Satyam Computer Services,` the company said in a statement to the exchanges. The transaction is expected to be concluded in the next few weeks, subject to statutory approvals and the satisfaction of other closing conditions.

Commenting on the deal, B Ramalinga Raju, chairman, Satyam, said, "We look forward to the participation of the high caliber group of investors to further Nipuna`s plans for growth and development, on closure of the transaction. The investments will allow Nipuna to access the global relationship network of the new investors."

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