Sausage Software Receives AUS$6.5m Intel Investment
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Australian Internet and e-commerce technology developer Sausage Software has signed a placement agreement with Intel Corp., under which Intel will provide an AUS$6.5 million (US$4.3 million) investment into the company.
Under the agreement, Intel will subscribe for five million shares in Sausage at a cost of AUS$1.31 per share, representing five per cent of Sausage's issued capital.
According to Sausage Software director Wayne Bos, the company will use the funds to strengthen its capabilities as an e-commerce systems, product and solutions provider.
Over the past six months Sausage has aggressively broadened its e-commerce initiatives to include online ERP and online small business merchant services. With the investment from Intel, it will now adapt its own systems to provide customers with an updated model for downloading, selling and registering software online.
The agreement is one of three major deals announced by Sausage in recent weeks. Earlier this month, St George announced an AUS$6.7 million investment into Sausage and more recently, the company signed an agreement with America Online to distribute its HotDog Web design software to AOL's user base.