(By Preethi J & Nikhil Pahwa) Northgate Technologies, which owns the social networking site Bharatstudent.com, Online Advertising network Axill, and VoIP and IPTV solutions provider Globe7, has shut its Singapore branch, and written off fixed assets worth Rs 20.8 million. Interestingly, during the quarter, Northgate also announced that their subsidiary Globe7 had partnered with SingTel to deliver free content - live TV channels, news updates, movies, games and radio content to SingTel's Wireless@SG users. We're not certain if the SingTel deal has been affected by this move, and have requested the company for inputs. Northgate has also shuffled its ESOP this quarter, granting 2,200,000 options through its new "Employee Stock Option Plan - 2006" and "Restricted Stock Option Plan - 2007" for employees and directors. Last quarter, the company offered 1,60,000 ESOPS. Of these, 926,500 options held under the Employee Stock Option Plan 2004…
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