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Stock Report
Paradyne Infotech clarifies on news item regarding acquisition
Posted On : 2007-04-12 07:23:20( TIMEZONE : IST )
With reference to the news item appearing in a leading web portal titled, "Paradyne Infotech likely to acquire a Company in US, Europe", Paradyne Infotech Ltd has clarified that the Company has already charted out its plans to grow organically as well as inorganically which it has made clear in the Chairman's Letter to the Shareholders in its annual report for the year 2005-2006. Consistent with this business policy. The Company has already acquired a Company - Links Group International Inc., in USA and the same has been informed to the Stock Exchanges on March 28, 2007.
As a part of Company's business policy, the Company is in search of various acquisition targets. However, no concrete development has taken place in this regard and the Company is not aware as to the source of the facts and figures as appearing in the news item and the Company deny any such information appearing in the said news item.
