CHENNAI, SEPT 15: Global computer giant Intel has picked up 20-25 per cent equity stake in a city-based software company Ritechoice Technologies.When contacted Ritechoice officials confirmed the deal with Intel Pacific, but refused to give details of the amount invested or the stake taken by the multinational.Market sources indicated that Intel Pacific was picking up 25 per cent stake in the software company specialising in enterprise solutions for stock brokerage houses in India. They said the global giant was reportedly investing about Rs 1.8 crore to pick up equity.Despite repeated attempts, the Intel spokesperson could not be contacted in Bangalore while Ritechoice officials said they could not disclose details of the deal as per clauses of their agreement with the computer giant."The Intel investment helps us position ourselves to ride the current market wave for stock brokerage solutions through pumping in money to strengthen our presence in key geographic locations," Ritechoice chiefexecutive S Rangarajan said.He also indicated that the current investment would be used to extend the company's product range as well as to consolidate Ritechoice's market and support infrastructure in Mumbai.Intel South Asia director Atul Vijaykar said in a press statement that his company's investment in Ritechoice reflects its commitment to improve business efficiency.
