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  1. Technology
February 27, 1994

SOROS TO TAKE STAKE IN TECHNA DIGITAL SERVICES

By CBR Staff Writer

Fund manager George Soros – the man credited with single-handedly saving the UK economy by driving sterling out of the absurd European Exchange Rate Mechanism, is to take a majority stake in Calcutta-based software company Techna Digital Services Ltd, company president Alo Ghosh told Reuter – Soros Fund Management has a majority stake in over 12 of the world’s leading software companies and will be doing the same in Techna too, Ghosh said, adding that Techna associate companies in California’s Silicon Valley, Philadelphia and Hong Kong would be merged into a single company before Soros takes his stake; Techna plans to set up a Software Village on the outskirts of Calcutta, which will feature workplace, residential premises and recreational facilities, with workstations linked through a private satellite channel with a gateway ia Singapore, and Ghosh plans to employ 500 computer professionals by year-end, but the Software Village is planned to have space for about 10,000 computer professionals in two years.

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