Interactive Ideas announces the acquisition of a minority stake in Interfinet Technologies (PVT) Ltd

1st October 2008, Fast-growing, value-added Software and Technology distributor, Interactive Ideas today announced the acquisition of a minority stake in Interfinet Technologies (PVT) Ltd.

Based in Bhubaneswar, Orissa State, India. Interfinet is a four-year old company that has built an expertise around the customisation of Open Source software projects for deployment into SME‘s in Western Europe and in the USA.

The two companies have built their collaboration over the last year as Interactive have increasingly employed Web 2.0 technologies for use in their own processes. Initially taking an 18% shareholding, the plans for the strategic alliance are for Interactive to use its sales and marketing presence within the channel to provide a route to market for Interfinet’s service offering. Interactive’s exceptional standing within the channel as its leading Linux distributor gives it a unique positioning to provide services around Open Source technologies through resellers.

Michael Trup, Managing Director of Interactive Ideas said ‘We are really excited at this opportunity. The key to making strategic alliances work is a similar culture combined with complementary skill bases. By working with Interfinet over the last year we have worked through many of the challenges of long distance collaboration and see a great opportunity to extend our open source related solutions. Our Linux business is growing strongly and this is telling us that open source has now reached a tipping point. We think there are some great opportunities at the application and integration layer to provide services for our resellers over the coming months.’

Bhabani Dash, MD of Interfinet said ‘We seemed to share a corporate culture of putting relationships first when dealing with Interactive. Our business has been growing strongly but we felt that some additional capital and more importantly the channel access and expertise they bring to the table will allow us to grow the company much more quickly and successfully.’

About Interfinet Technologies:

Interfinet Technologies Pvt. Ltd. (ENFINET), based in Bhubaneswar, is one of the leading web/customized software application solution providers in the industry providing premium website designing, e-commerce solutions and software development. The company has made rapid strides in the Information Technology Industry and has carved a niche for itself in this ever-growing marketplace. Interfinet is dedicated to provide superior service and excellent support A core group, backed by a dedicated team of software professionals, integrators, and domain specialists, manage the operation. The company operates their own independent, professionally engineered network offering premium Web hosting services on NT 4.0 and LINUX platforms. Interfinet is committed to develop state of- the-art technologies and solutions that are innovative, cost-effective and add value to the existing systems. They provide customized solutions and services that are designed to meet customer requirements and can take up an application product from concept to implementation - on a turnkey basis.