DealTracker – Intel Capital Invests $23 Million In 3 Cos
Even as Intel’s revenues are shrinking and the global credit crunch has made funding a scarce commodity, Intel Capital, the investment arm of Intel Corp., will be investing $23 million in three Indian companies.
The three companies are One97 Communications Pvt. Ltd., which provides value-added services like ring tones and games for mobile phones, IndiaMART.com, an online business-to-business marketplace, and Global Talent Track, a vocational educational institute. The individual investment amounts have not been disclosed as yet.
Last year, Intel Capital invested about $50 million in 9 companies in India. That amounted to 8.5% of the total funds committed globally, excluding a $1 billion investment in Clearwire Corp., an Internet provider specializing in a new type of wireless broadband technology called WiMax.
Frankly, for companies with spare cash there couldn’t be a better time to make investments, and seems like this is going to set the tone for the year.
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