Indiaco Ventures acquires 25.64% stake in Verity Technologies

Indiaco Ventures Ltd has announced that the Company has acquired 25.64% stake in Verity Technologies Pvt Ltd in pursuance of authority given by the Board of Directors of the Company u/s 372A in the Board meeting held on November 04, 2006. All the formalities in this regard have been completed now.

The Company is presently holding 3,33,332 shares out of total 13,00,000 shares of Verity Technologies Pvt Ltd, and is looking forward to increase its stake very soon.

Verity Technologies Pvt Ltd is a Telecom Software Company having registered office in Bangalore. The Company provides end to end development and consulting services in the area of wireless data service. The Company has expertise in the Mobile Application Development on J2ME and BREW platforms. The Company has the distinction of working with Reliance Infocomm the Worlds largest CDMA network roll out.

Source : Equity Bulls

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