Aftek Infosys ally buys 56 per cent in Seekport

A European affiliate of India's Aftek Infosys has bought a 56 per cent stake in Germany's Seekport Internet Technologies GmbH, the company said in statement to the Bombay Stock Exchange on Monday.

The Seekport acquisition was made by Arexera Information Technologies GmbH. However, there was no indication about the value of the deal.

Aftek Infosys owns a 49 per cent stake in Arexera and has a "firm understanding" to buy the remaining 51 per cent stake.

Seekport Internet is an German language search engine, and has presence in both business-to-businees (B2B) and business-to-customer (B2C) operations, Aftek Infosys chairman and managing director Ranjit Dhuru said. The company had launched its B2B services in January 2004 and B2C on June 17 of this year, he said.

The acquisition would enable Arexera to offer search engine services under B2B and B2C models, he said, adding, Arexera provides search engine technologies and software. Aftek, together with a financial investor, had acquired 49 per cent stake in Arexera in March 2003.

Arexera was founded as the German subsidiary of Tecomac AG in Fribourg, Switzerland, under the name Tecomac Gmbh. In October 2001, Arexera became an independent company after its main investors withdrew their stake from Tecomac AG.

In February 2002, Tecomac Gmbh's had changed its name to Arexera Information Technologies GmbH.