Internet software developer Sausage Software has made its market presence felt once again, this time announcing an investment made by chip manufacturer Intel for nearly 6 per cent of the Internet company.
Going public with the details this week, Sausage's chairman Gil Hoskins said the deal for 5 million shares (at $1.31 per share) worth $6.55 million will position the developer in the front seat for future releases of Intel's technology.
"The investment ensures we'll never be beaten on technology," said Hoskins. He claims that with Intel's breadth and market dominance Sausage stands to reap the benefits as the chip manufacturer facilitates the opening of new markets.
High on the agenda is Asia, including China and India, a market, according to Hoskins, where Sausage hopes to raise its profile and Intel is looking to expand into.
"The investment has been championed by Intel Asia Pacific," said Hoskins. "They see Asia as an expanding market and are bullish about India."
The announcement comes just two weeks after a similar sized investment made by St George Bank in the Internet developer and with only four Internet companies listed on the Australian Stock Exchange Hoskins denies the company is planning any major acquisition moves on its competitors in the near future.
"No we're not planning anything big at the moment," he said. "We'd like to see more listed Internet companies."
Intel's first equity shareholding deal in an Australian listed company, Wayne Bos, director of Sausage Software, said the company has been working with Intel for more than 12 months, reselling technologies such as the Intel Web Design Effects product and the Indeo Media Kit.