Cadforce secures investment for independent subsidiary

By siliconindia   |   Friday, 24 October 2008, 22:00 IST
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Chennai: Cadforce, a Los Angeles-based AEC outsourcing services company announced a transaction wherein it will become an independent subsidiary of Neilsoft, a global architectural and engineering outsourcing services company. The combined group will have 900 employees worldwide. The move comes after the Cadforce board of directors and shareholders found the Neilsoft proposal to be beneficial growth option for its customers, employees, and shareholders. The Neilsoft proposal offers specific steps to achieve Cadforce's goals of growth, expansion, and long-term stability along with strategic operational synergies. Robert W. Vanech, Cadforce's Co-founder said, "Neilsoft's international presence, combined with our Los Angeles presence, also strengthens our client servicing and hybrid model capabilities." Venetia Kontogouris, Director, Neilsoft said, "This is a very synergistic deal and will provide both an enhanced services portfolio and a mature delivery capability for Cadforce. It will allow the Cadforce team to expand beyond architectural services, and to provide structural and MEP services. Neilsoft will also bring its experience, tools, and methodology for quality management and work migration planning to Cadforce, which is a significant value-add."