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October 4, 1998

INDIAN SOFTWARE FIRM VISUALSOFT SEEKS FOREIGN PARTNERS

By CBR Staff Writer

Hyderabad-based VisualSoft (India) is considering proposals from several international software firms for a research and development tie-up. The firm plans to sell a small chunk of its equity – 1.5 million shares – at a premium to the firm it finally partners with. VisualSoft specializes in Year 2000 consultancy and products. It has developed VisualShift for the client server Y2K market, and signed an agreement with Platinum Technologies Inc to sell it worldwide. The firm also plans to launch a product to tackle the Euro conversion problem in the next three to four months. VisualSoft declared a net profit of $0.66m on sales of $2.27m last year.

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