Dell Computer plans to take a five per cent or $33 million stake in Norway's Fast Search & Transfer Internet search engine company, which it will use to fund expansion.
The move follows a deal signed by the two companies in May, when Fast agreed to develop a socalled Fast Search search engine to run on Dell's Poweredge servers and Powervault storage subsystems.
The bundle was launched on Monday and Fast hopes to resell it to major Internet portals, Internet Service Providers and Web sites.
But to seal the pact, Dell now intends to subscribe to an enlarged offering of 1.4 million Fast shares, valued at 140 kroner ($18) each. It also has the option of taking another five per cent stake in the company within nine months of signing the conditional placing agreement or following Fast's listing on Nasdaq - whichever comes first.
Fast is 44 per cent owned by Norwegian data storage company, Opticom and develops search and realtime content filtering applications for the Internet and intranets.
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