Intel Capital pumps in more money in Sasken, Tejas

By siliconindia staff writer   |   Wednesday, 08 September 2004, 07:00 Hrs
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BANGALORE: Intel Capital is increasing its stake in Sasken Technologies and Tejas Networks, Business Standard reports quoting unnamed sources. Financial details were not disclosed. Sasken provides telecom software solutions and services to global terminal equipment manufacturers, network equipment vendors, semiconductor companies and network operators. For the 2003-04, Sasken revenues grew 61% to $36.4 million, while profits grew from about $0.28 million (1.27 crore) to about $4 million (18.33 crore). The company, which derives 24% of its revenues from its IPRs and the rest from services, employs close to 2,000 professionals. Intel had invested in Tejas’s $9 million second round in January 2002 along with IL&FS Venture Capital. Tejas had raised $5 million in its first round which included Gururaj Deshpande, Sycamore Networks, and ASG Omni. Tejas, which is focused on the optical networking space, has developed products that enable telecom carriers to build converged networks that support traditional voice-based services as well as the new data-dominated services. It posted revenues of about $6.6 million (30 crore) for the year 2003-04.