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Magic Software of Israel raises stake in India unit

Its earlier holding in the Indian outfit was 15 per cent.

MSE CEO Jack Dunietz refused to divulge the details such as the parties from whom the stock was bought or the price at which it was acquired.

T O D A Y

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Earlier, MSE and the Pune-based Nextstep Infotech Private Limited held 15 per cent of MII each and Datapro held 10 per cent. The remaining 60 per cent were in the hands of promoters and employees of the company.

After the new deal, the promoters including Mike Shah, former managing director of Digital Equipment (India), hold the remaining 49 per cent. "There will be no change in the management structure,'' said Dunietz.

MII will offer training in Magic, a table-driven, engine based cross-platform rapid application development and deployment system for developing client-server environment.

Besides, it will offer Internet solutions in partnership with Span in next few months. Training will be offered in Bombay and Pune.

Apart from training in Magic, a specific module comprising database packages, languages and communication protocols would be dovetailed into the training.

MIIs development centre at Pune has also been expanded. Training expertise from Mentotech Inc, Israel's leading computer training firm and a sister concern of the MSE, is also likely to be incorporated in the training programme.

The company also plans to acquire distribution agreements from local developers to offer their products for worldwide applications, said Dunietz.

MII is likely to offer a slew of products in the Indian market that will range from car rental management systems to ERP platforms.

According to Dunietz "The human factors available here is the driving force to consider India as Magic's training centre in Asia.''

- Compiled from the Indian media

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