India
Domain buys back sake from Asia Online
Business Standard - March 6th, 2002
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.
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