Pentafour has appointed global advisors to work out a strategy on mergers and acquisitions with the company setting eyes on american, European and Asean regions. However, he refused to name the consultants.

Chandrasekharan said "Pentafour Software would like to establish inroads with corporates in similar areas of business operation through joint acquisitions, mergers and joint ventures in USA, Europe, Asean and Pacific regions."

He said the company has directed its consultants to identify corporates in multimedia and software developments with strengths either in product, customer or skillsegments.

Company sources said Foreign Investment Promotion Board (FIPB) would be approached soon for its nod on the 60 million dollar American Depository Receipts (ADR) programme planned for this financial year.

Thereafter, the company would move to the US market regulator securities exchange commission to float the equity issue, sources added.

Chandrasekharan said the company anticipated 'significant progress in mergers and acquisitions and joint ventures by the end of the current fiscal year."

The company, he said, has set up a 'special committee to examine the suggestions forwarded by the consultants and the committee is currently examining these recommendations.

The finance ministry had early this month cleared the 60 million dollar ADR programme of the company, making it the third company to get the nod for ADR programme.

On asked about the projected earnings for the current quarter and fiscal, he said the company would grow 'better than industrial average', and pointed out that the growthlast year there was a growth of 85 per cent.

Pentafour had posted a turnover of Rs 143 crore for the quarter ended June 30 last, a jump of 50 per cent with a net profit growth of 22 per cent at Rs 34 crore. On the US equity float, company sources said Pentafour would like to list at Nasdaq considering the number of high profile technologies companies being traded at the bourse.

Pentafour had floated two GDR issues, one in December, 1996 offering 3.90 million shares at 13 dollar per receipt and in 1997, September offering 3.53 million shares for a price of 13.16 per GDR.