Mumbai, Aug 29 :     Silverline Technologies today said it will enter into a strategic alliance with TIS Worldwide under which it will invest $ 12.5 million to pick up a 6 per cent stake in the US-based e-business solutions integrator company. The move comes a day after the company board deciding to defer its much-awaited acquisition of a US-based software company. Reports about the planned acquisition, believed to be worth more than $ 100 million, had generated a lot of interest in the Silverline share and sent it soaring. Silverline said it will hold a minority stake, but will join Goldman Sachs as a member on the TIS board of directors. Silverline will distribute TIS' exclusive software solutions in India, while the US firm will benefit from global developmental capabilities. The value of the agreement to Silverline is expected to be $ 25 million, which it will realise over three years. At a later stage, TIS will expand its FLITE e-business development labs outside the US to India by opening two labs at Silverline's development centres by the year-end. These labs, in Mumbai and Chennai, will enable the rapid prototyping development testing and implementation of e-business solutions. With the new FLITE labs, TIS will be able to offer customers a wider range of enterprise services, including e-business applications maintenance and better customer support. Silverline, a software solutions provider, also provides infotech solutions and outsourcing services. It specialises in the areas of e-business, CRM and application maintenance. On the other hand, TIS Worldwide is an e-business solutions integrator that delivers internet-based applications to help corporations increase sales and improve customer service. The focus is on e-business strategies, solutions development, interactive web design and usability and recruiting/placing of technology specialists. Reacting to the reports about the alliance, the Silverline scrip finished higher at Rs 421.10 on the BSE. It had opened at Rs 420 and scaled an intra-day high of Rs 423. Earlier, in the day, it had hit a low of Rs 401.50 as marketmen cringed at the news that the company had deferred its acquisition in the US.