INDIA BUSINESS WORLD - OCTOBER 21^st - NOVEMBER 15^th - 2007

GLODYNE BUYS US' FRONT OFFICE FOR $3.3M IN ALL-CASH DEAL

Technology services provider Glodyne Technoserve has entered into a stock purchase agreement to acquire 100% stake in US-based Front Office Technologies Inc for an estimated $3.34 million in an allcash deal. Front Office Technologies has rich expertise across different verticals in the infrastructure management services space and the acquisition will add key new relationships in the banking and finance, media and FMCG domains in the US to Glodyne's technology IMS business, a release issued here said.