National telecommunications
carrier Telstra has agreed to increase its equity stake in Australian software
developer Sausage Software, taking its hold in the company to 40 per cent.
Earlier this year, Telstra purchased a 10 per cent stake in the software
developer.
The telco will initially convert 14.9 million options, or 10 per cent of
Sausage, into shares, which will give the company AUS$18.9 million (US$12.5
million) in capital.
Telstra will be able to invest another AUS$54 million (US$36 million) to
increase its holding to 40 per cent.
Sausage intends to use this capital to fund continued expansion of its
business.
