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Intel buys stake in Dubai software firm
- United Arab Emirates: Thursday, October 30 - 2008 at 07:46
US-based Intel, the world's largest semiconductor company, said it has made its first major investment into a software company based in the Middle East, Gulf News has reported. The company, called Sphere Networks, which is located in Dubai Silicon Oasis, currently has a staff of 26 people and provides network management software. Current clients include municipalities in Saudi Arabia and Jordan and the Abu Dhabi Chamber of Commerce. Feroz Sanaulla, Intel's director of capital for the region, said the investment represents a minority share. Intel will not be taking a managerial role with the company.
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Jeff Florian, Senior ReporterThursday, October 30 - 2008 at 07:46 UAE local time (GMT+4)
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