Monday, December 20, 2004

HCL Tech buys 51% stake in Aalayance

HCL Technologies has announced that the Board of Directors of the company have approved the subscription of 9.08 million shares in Aalayance Inc., giving HCL Technologies a majority 51 percent stake (on a fully diluted basis). The consideration for this transaction is $1.9 million and the investment will be made by HCL Technologies Bermuda Ltd, a wholly owned subsidiary of HCL Technologies.

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Read the complete article here.

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