World Online is the marketing associate of Softpro in the European marketsand America. The Atlanta-headquartered World Online is promoted by an NRI -Chand Akkineni. As part of business consolidation plans, Akkineni in hisindividual capacity will have about 54 per cent equity stake in SoftproSystems. "Although the option to bring both the companies under a singleumbrella is on, we are yet to frame the nittie-gritties of the proposal.

Since we are also planning to list the World Online shares on the Nasdaqduring the next fiscal, the amalgamation plan may take some more time,"World Online chief executive officer Chand Akkineni said. It is not knownwhether Akkineni will also bring Softpros Inc of USA, another company ownedby him, under the consolidation proposal. Softpro Systems is promoted by AMallikharjuna Rao, Akkineni's father, and his associates. Softpro isplanning to set up representative offices in the US and the UK shortly.

Though the promoters have not yet set any timeframe for the consolidation ofbusinesses under a single entity through an amalgamation, the company isactively considering this option to increase valuation among investors, theMumbai-based Rajan Srinivasan & Associates chartered accountant AV Rajansaid. Akkineni said the company had plans to raise $3-4 million from venturecapital funds (VCFs) prior to the proposed Nasdaq listing.

World Online is planning to offload about 30 per cent equity stake in thecompany to VCFs in the US. "We are likely to achieve a revenue of $4 millionduring the first year of our operations," he added. Akkineni said thecompany was in the process of launching India-exclusive portals. The companywill also implement projects in association with Softpro.

World Online recently unveiled GlobalNoise (network of Indian softwareengineers) to offer a forum for software engineers of Indian origin tointeract, share, collaborate their ideas of common interest. The benefitsfor the users of Globalnoise include news capsules tailored to the group,free e-mail, chat services, bulletin boards and discounts on services frommerchants.

Softpro Systems is likely to rake in a net profit of Rs 2 crore on a totalrevenue of Rs 3.52 crore during the fiscal 1999-2000. The company is alsofloating an IPO of Rs 12.75 crore at a premium of Rs 75 per cash shortly.Following the IPO, the promoters' stake in Softpro will be 70.69 per cent.