The Hindu Business Line : Aftek stake in search engine

MUMBAI: Aftek Infosys Ltd has informed the BSE that Arexera Information Technologies GmbH, a German entity, has along with its employees, acquired 56 per cent stake in Seekport Internet Technologies GmbH, an Internet search engine. Aftek Infosys Ltd holds 49 per cent stake in Arexera and has a firm understanding to acquire the remaining 51 per cent. In March 2003, Aftek had acquired a 49 per cent stake in the Munich-based Arexera Information Technologies GmbH for a cash deal of euro 8.86 million.

The company retains the right to acquire the entire 100 per cent equity in Arexera, based on certain predetermined milestones over the next three to four years.

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