The Promoters of India Domain Web Services have bought back the 67 per cent equity stake held by Asia Online which has earlier acquired the stake from the former in August 2000.

However, details are not available on Asia Online's decision to unload the stake as well as the value of the deal. "We took the decision to buy back the equity from Asia Online with an eye on focusing on India-specific operations," Prashant Jain, the Managing Director of the company, stated.

India Domain is into e-business services such as web enablement, B2B market place, B2C online retailing, e-procurement, sales forces automation etc. It is currently putting in place a web based management information system for Lawrence & Mayo. The system will help the latter to exchange information and provides business intelligence on sales, stocks and other critical data, according to a press release issued here today.