Monday, October 8, 2001		Article

DEFYING global tech slowdown trends, 70 per cent of the issued, subscribed and paid-up equity share capital of Design Expo Network Private Limited (Mumbai), have been acquired by SLMsoft.com Inc., a leading Canadian global provider of electronic financial transaction solutions for the e-commerce market. This will provide SLMsoft.com with a platform to build a world-class R and D centre with cost-effective implementation and manpower to support the deployment of its products across their global clients.

"We are very pleased to have acquired an experienced product development company in India. Design Expo brings a suite of leading-edge portal applications to augment our product line and will provide us with high quality resources to deploy technology and support our software development initiatives," Govin Misir, Chairman and CEO of SLMsoft.com said.

"With the acquisition of Design Expo, we have secured the scalability that we need to ensure the ongoing development of the software products necessary to remain ahead of the competition within the electronic transaction management markets," he added further.

The acquisition of Design Expo is in keeping with SLMsoft.com’s strategy of building its capabilities for deploying technology in the global markets. Last year’s investment in building SLMsoft.com’s sales and distribution networks in China, the Middle East, West Africa, Latin America and North America have resulted in a significant pipeline of opportunities being identified in these markets. Design Expo will provide the scalability that SLMsoft.com needs to implement these solutions quickly and reduce the time to market for new technology. — TNS