Gateway to buy Snowman

Gateway Distriparks Ltd will acquire a 50.10 per cent stake in Kerala-based Snowman Frozen Foods Ltd for Rs 48.12 crore. The Gateway board approved the acquisition through the subscription of 4.12 crore equity shares. The company subscribed to 3.43 crore new equity shares of Snowman at Rs 10.50 per share and purchased 68.61 lakh existing equity scrips at Rs 17.50 each from Amalgam Foods Ltd, a shareholder of Snowman.

SREI Infra

SREI Infrastructure Finance Ltd will launch an improved version of its Money Bag 2005 scheme, to be called Money bag Power, at the International Mining and Machinery Exhibition in Calcutta. The scheme offers additional advantages such as web-based transactions, under which a borrower can transact on the Internet his personalised pre-signed delivery order.

Pocket PC

UTStarcom and Reliance Communications have launched CDMA Windows Mobile 5.0 Pocket PC PPC 6700. The multi-functional service includes data and video transmission capabilities of up to 144 kbps.

Air Sahara

Air Sahara will expand its network by adding Malé in Maldives to its network. Malé will be its fourth international destination. Air Sahara will offer a daily return flight from New Delhi to Malé via Colombo.

Airtel launch

Bharti Airtel has launched Airtel Songcatcher — instant music on mobile. The technology enables consumers to instantly download any song he listens to as his Hello Tune.

New Balance

New Balance Athletic Shoe Inc has launched its Fall Winter Collection 2006. The collection is priced between Rs 300 and Rs 1,600.

Cathay Pacific

Cathay Pacific will expand its freighter service to and from Shanghai. The airline will add five more flights a week, taking the number to 17 flights every week.

Intel launch

Intel Corporation has launched Quad-Core Intel Xeon 5300 and Intel Core 2 Extreme Quad-Core processor families. The latter is about 80 per cent faster than the company’s current Intel Core 2 Extreme Processor X6800.

Guruji.com

Guruji.com, backed by Sequoia Capital India, has announced a partnership Infomedia India Ltd. The partnership will allow Guruji.com to use the business listings of Infomedia Yellow Pages as part of its city search.

Merrill Corp

Merrill Corporation has launched its Indian operations for IT enabled services through Merrill Technology Services India Pvt Ltd. The centre is located at Olympia Technology Park, Chennai and will house 300 employees.