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Short Take: Avix invests in OneWave

Avix Ventures, L.P. said today it will acquire a 51.7 percent stake of e-commerce software maker OneWave. Avix will purchase 7.75 million shares, for a minimum of $8 million, from Sundar Subramaniam and four other investors in the company. Avix said is making the investment because it sees "tremendous opportunity" in the emerging e-commerce market.

Mike Ricciuti Staff writer, CNET News
Mike Ricciuti joined CNET in 1996. He is now CNET News' Boston-based executive editor and east coast bureau chief, serving as department editor for business technology and software covered by CNET News, Reviews, and Download.com. E-mail Mike.
Mike Ricciuti
Avix Ventures, L.P. said today it will acquire a 51.7 percent stake of e-commerce software maker OneWave. Avix will purchase 7.75 million shares, for a minimum of $8 million, from Sundar Subramaniam and four other investors in the company. Avix said is making the investment because it sees "tremendous opportunity" in the emerging e-commerce market.