Monday, January 10, 2005

HCL Tech completes buyout of Deutsche Bank stake in DSI

HCL Technologies Ltd. today said it has completed acquisition of the balance 49 per cent stake in DSI Financial Solutions, its joint venture with Deutsche Bank.

HCL Technologies has acquired the balance 49 per cent stake in DSI Financial Solutions Private Ltd. (DSI), Singapore, which was held by DB, the company informed the Bombay Stock Exchange.

The JV was created in September 2001.

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Under the JV agreement, the Right of First Refusal (ROFR) for any technology business being outsourced to the Indian partner will continue to be accorded to HCL by DB for four more years till Sept. 2008.

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Read the complete article here.

Courtesy: The Hindu

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