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.
Sausage will also use the funding to strengthen its product development
team and to raise its profile in the Asia Pacific region.
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.