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News >> Technology >>
Cranes buys EMRC's Indian operations
By agencies
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Tuesday, 24 May 2005, 19:30 IST
BANGALORE: Cranes Software International Ltd has announced the acquisition of the Indian operations of Engineering Mechanics Research Corporation (EMRC).
The consolidated deal size is about $1.5 million.
The acquisition of EMRC's India operations would give immediate access to Cranes Software to diversify into an expanded market in the scientific and engineering software, specifically in the engineering services domain, said a company release.
EMRC is the developer of the NISA suite of products and provides consulting services and customised software in the field of computer-aided engineering.
Cranes also plans to acquire the US arm of EMRC for which it is awaiting some statutory clearances.
Asif Khader, Managing Director, said: "The EMRC acquisition is in line with our strategy of purchasing undervalued assets that provide substantial growth potential by leveraging our existing strengths and capabilities."