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H-P ups stake in Digital

Bangalore, June 7 (PTI): Digital Globalsoft Ltd, the local subsidiary of global IT major H-P, said today that H-Pís stake in the firm would go up to 76.2 per cent from 50.6 per cent, after expanding its share capital to Rs 60.8 crore from Rs 33 crore and a convertible preferential allotment of 7.67 million shares to H-P.

H-Pís Indian software operations (ISO), which employs 950 people, would be merged with the 2,500 strong Digital. After the merger, Digital in its renewed form will continue to function as a board managed company headed by Digital president and chief executive officer Som Mittal.

ďPublic shareholders will continue to have the opportunity to participate in and have a share in the value created by Digital in the future,Ē a Digital statement said.

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