-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UqCcc3q6cgaILj/gaKnX6p26FFcfFQudSnrR8AewGw3ibIRr8FQcsBaL+e3Megqn 9epVm3CJONQzAWXg4EefGw== 0001341004-06-003540.txt : 20061219 0001341004-06-003540.hdr.sgml : 20061219 20061219114619 ACCESSION NUMBER: 0001341004-06-003540 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20061219 FILED AS OF DATE: 20061219 DATE AS OF CHANGE: 20061219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: REDIFF COM INDIA LTD CENTRAL INDEX KEY: 0001103783 STANDARD INDUSTRIAL CLASSIFICATION: NEWSPAPERS: PUBLISHING OR PUBLISHING & PRINTING [2711] IRS NUMBER: 000000000 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30735 FILM NUMBER: 061285590 BUSINESS ADDRESS: STREET 1: MAHALAXMI ENGINEERING ESTATE, 1ST FLOOR STREET 2: BEHIND KHILANI COLLEGE CITY: MUMBAI STATE: K7 ZIP: 00000 BUSINESS PHONE: 0119122444 MAIL ADDRESS: STREET 1: MAHALAXMI ENGINEERING ESTATE, 1ST FLOOR CITY: BEHIND KHILANI COLLE STATE: K7 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: REDIFF COMMUNICATION LTD DATE OF NAME CHANGE: 20000119 6-K 1 rediff_6-k.htm REPORT OF FOREIGN PRIVATE ISSUER

 


 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

December 19, 2006

Commission File Number: 000-30735

 

Rediff.com India Limited

(Translation of registrant's name into English)

 

1st Floor, Mahalaxmi Engineering Estate, L.J. First Cross Road

Mahim (West), Mumbai 400 016

(Address of principal executive office)

 

____________________

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

 

Form 20-F x       Form 40-F o

 

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

 

Yes o           No x

 

(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b) : 82- .)

 

 


 

 

 

On December 19, 2006, Rediff.com India Limited issued a press release announcing its acquisition of a minority stake in Tachyon Technologies. A copy of the related press release is attached hereto as Exhibit 99.1.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Date: December 19, 2006

Rediff.com India Limited

(Registrant)

 

 

 

By: /s/ Joy Basu                                  

 

Name: Joy Basu

 

 

Title: Chief Financial Officer

 

 

 

i

 


 

 

 

EXHIBIT NO.

DESCRIPTION

 

 

99.1

Press release issued by the registrant dated December 19, 2006.

 

 

 

ii

 

 

 

 EX-99 2 ex99-1.htm EXHIBIT 99.1 - PRESS RELEASE

Exhibit 99.1

PRESS RELEASE

Rediff.com acquires minority stake in Tachyon Technologies

 

Bangalore, India, December 19, 2006: Rediff.com India Limited (NASDAQ: REDF), 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 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 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 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, allowing them to communicate in their language of choice. Rediff.com has adopted this technology in its “Rediffmail” email and “Rediff Bol” messenger service.

 

99.1-1

 


 

 

Commenting on the Rediff’s investment in Tachyon, Ram Prakash H, CEO of Tachyon Technologies, said “Rediff.com’s investment in Tachyon Technologies should provide us with the capital we need to enhance our development infrastructure. Hopefully, this will help us to realize our ultimate goal of developing great products”

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 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 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, USA.

 

Safe Harbor

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

 

99.1-2

 


 

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.

 

For further information, please contact:

Ajay Menon

Ajit Pai / Neyda Huq

Rediff.com India Limited

Genesis Burson-Marsteller

Tel: 91-22-24449144

Tel: 91-80-25589122

Email: ajaym@rediff.co.in

Email: ajit.pai@bm.com / neyda.huq@bm.com

 

 

 

99.1-3

 

 

 

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