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Tybit, a subsidiary of AIT (Advanced Internet Technologies) has signed Fraser Net, a social networking portal as a channel partner.

Tybit is a client side search application provider. Tybit provides accelerated search by submitting searches to multiple online sources and displays more relevant results for the users in the single window of the desktop. Tybit is aiming at an $80 million first round financing and is in talks with some interested capital firms for this, the company has estimated that its revenues will reach $6 billion annually in five years time.

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