Rediff.com Acquires Minority Stake in Tachyon Technologies.BANGALORE, India -- Rediff.com India Limited (Nasdaq:REDF REDF Roberts Enterprise Development Fund (San Francisco Bay area, California) REDF Real Estate Development Fund ), one of the leading worldwide online providers of news, information, communication, entertainment and shopping services ("Rediff"), announced today that it has acquired a minority stake in Tachyon tachyon (tăk`ēŏn'), hypothetical elementary particle that travels only at speeds exceeding that of light. According to the theory of relativity, the speed of light is the limiting velocity for all ordinary material particles. Technologies, a Bangalore based software company ("Tachyon"), for an undisclosed sum. Today's announcement is a part of Rediff's efforts to boost its competitiveness by investing in start-up companies with innovative technologies that allow Rediff to provide better services for its customers. Ajit Balakrishnan, Chief Executive Officer and founder of Rediff.com, said "We aspire to aspire to verb aim for, desire, pursue, hope for, long for, crave, seek out, wish for, dream about, yearn for, hunger for, hanker after, be eager for, set your heart on, set your sights on, be ambitious for encourage promising start-ups to develop innovative world class products that support our business. As a part of such efforts, we are delighted to have an opportunity to invest in a promising start-up company, such as Tachyon Technologies." Venki Nishtala, Chief Technology Officer of Rediff.com, added "As a leading Internet portal of the country, we believe enhanced Indian language use capability through Tachyon's innovative software can help fuel product innovation and is consistent with our strategy of promoting growth by introducing innovative technologies. The predictive text Predictive text is an input technology designed for mobile phones. The technology allows words to be entered by a single keypress for each letter, as opposed to the multiple keypress approach used in the older generation of mobile phones. input technology developed by Tachyon is based on sophisticated machine learning techniques and is an improvement on simple phonetic maps and specialized language keyboards, thus enabling millions of Indians to benefit from the Internet." Tachyon Technologies has built a world class product named 'Quillpad', which enables users to type in English alphabets to input words in other languages (in the respective scripts) with ease on the basis of phonetics phonetics (fōnĕt`ĭks, fə–), study of the sounds of languages from three basic points of view. Phonetics studies speech sounds according to their production in the vocal organs (articulatory phonetics), their physical properties , allowing them to communicate in their language of choice. Rediff.com has adopted this technology in its "Rediffmail" email and "Rediff Bol" messenger service Messenger Service is a network-based system notification service included in some versions of Microsoft Windows. This service, although it has a similar name, is not related in any way to the . . Commenting on the Rediff's investment in Tachyon, Ram Prakash Dr. Ram Prakash a politician from Indian National Congress party is a Member of the Parliament of India representing Haryana in the Rajya Sabha, the upper house of the Indian Parliament. External links
K S Sreeram, co-founder of Tachyon Technologies added, "Tachyon, as one of the technologically innovative companies in India, welcomes this opportunity to be associated with Rediff.com. We know from our experience that people at Rediff.com understand the importance of product innovation and development to succeed in this competitive environment." About Tachyon Technologies Tachyon Technologies, founded by Ram Prakash H and K.S Sreeram in 2000, is working on innovative product ideas in the areas of machine learning, computer networking
Computer networking is the engineering discipline concerned with communication between computer systems or devices. and programming languages. Products recently released by Tachyon include Quillpad (http://quillpad.in), an intelligent transliteration technology for Indian languages and CSpace (http://cspace.in), a secure decentralized de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. user-to-user communication platform. Tachyon has its offices in Bangalore and Chennai. More information about the company can be found at http://tachyon.in. About Rediff.com Rediff.com is one of the leading worldwide online providers of news, information, communication, entertainment and shopping services for Indians. Founded in 1996, Rediff.com is headquartered in Mumbai, with offices in New Delhi and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , USA. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Except for historical information and discussions contained herein, statements included in this release may constitute "forward-looking statements." These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward looking statements. These risks and uncertainties include but are not limited to the slowdown in the U.S. and Indian economies and in the sectors in which our clients are based, the slowdown in the internet and IT sectors world-wide, competition, success of our past and future acquisitions, attracting, recruiting and retaining highly skilled employees, technology, legal and regulatory policy, managing risks associated with customer products, the wide spread acceptance of the internet as well as other risks detailed in the reports filed by Rediff.com India Limited with the U.S. Securities and Exchange Commission. Rediff.com India Limited and its subsidiaries may, from time to time, make additional written and oral forward-looking statements, including statements contained in its filings with the Securities and Exchange Commission and its reports to shareholders. Rediff.com India Limited does not undertake to update any forward-looking statement that may be made from time to time by it or on its behalf. |
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