Sayam buys cricinfo.com for $37.5 mn

JUNE 12: Continuing with its takeover stride, the Nasdaq-listed Satyam Infoway has invested $37.5 mn to buy a controlling stake in the UK-based cricket portal. Satyam plans to finance the deal through an American Depository Receipts (ADR) issue. This is Satyam’s second big investment — last year, it had bought over a sports site khel.com as part of its Rs 499 crore takeover of Indiaworld.com. Cricinfo.com generates upto 95 million page views a month, and is part of Satyam’s strategy to generate more page views, to help it generate more e-commerce revenues. Satyam has already formed a new company with US-based VeriSign for verifying digital signatures in India.