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Indian firms among Intel’s latest investment choices
October 23, 2013, 11:22 am

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The US company posted net earnings of $2.95 billion in its third quarter results this year [Getty Images]

The world’s top chipmaker Intel on Wednesday said it has invested $65 million in 16 technology firms across nine countries, including two Indian companies.

The investments from Intel Capital will help drive innovations in the cloud, datacentre, mobile technologies and consumer-related services.

statement from the investment arm of the chipmaker said Perpetuuiti Technosoft and Savaari Car Rentals are the two Indian companies that have received funding.

Perpetuuiti Technosoft offers real-time visibility and availability management of business continuity planning/disaster recovery infrastructure and Savaari Car rental is an online car rental company offering car rentals across 60 cities in India to both retail and corporate customers.

Intel’s current-quarter revenue outlook fell short of expectations due to a slowdown in the chipmaker’s core personal computer market.

The US company posted net earnings of $2.95 billion in its third quarter results this year.

The investment announcements were made at the 14th Annual Intel Capital Global Summit held in San Diego.

Intel Capital made their first investment in India in 1998 and has now invested over $330 million in over 90 technology companies across 10 cities.

The investment arm has invested more than $11 billion in over 1,322 companies in 54 countries since 1991.

Source: Agencies

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