News makers:
31 Jan 2000
3 February 2000
Azim Premji may be fifth richest man
Mumbai: Azim Premji may now well be the fifth richest man in the world. With Wirpo's market cap above the Rs one lakh crore mark, Mr Premji, who has nearly 75 per cent of Wipro stocks with him and his trusts, will be worth Rs 79,680 crore or $18.9 billion. In terms of Forbes' list of billionaires, he may be in the fifth position.
Indian promoter sells SoftPlus to US company
Mumbai: Another Indian promoter in the Silicon Valley has hit gold. He is Mohan Uttarwar, owner of SoftPlus, an e-solutions company. He is selling the company to US Interactive at $360 million. The deal includes $20 million in cash, 4.8 million shares and a one-year $80 million notes to the shareholders. US Interactive is quoted on the Nasdaq at $54 per share.
SoftPlus has annual revenue of $25 million. Under the terms of the deal, SoftPlus will become an independent strategic business unit of US Interactive. US Interactive is focused on back-end solutions in e-business, while SoftPlus has a product called Global 2000, which goes beyond the Internet.
31 January 2000
AT&T case judge dies
Washington: Harold Greene, the federal judge who presided over the 1981 anti-trust case that broke up AT&T, passed away at home. He was 76. Mr Greene, who was a refugee from Nazi Germany, died of cerebral haemorrhage, according to newspapers.
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