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Cranes buys Sigma suite from SPSS for global reach
By siliconindia staff writer
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Wednesday, 07 January 2004, 20:30 IST
BANGALORE: Using acquisition as a key strategy, Indian software vendors are expanding their global reach. In tune with this present trend, Cranes Software International (CSIL), the Bangalore-based vendor of scientific and engineering software products and solution, has bought the Sigma suite of products from SPSS Inc for $13 million.
As per the deal, CSIL will make an immediate cash payment of $9 million, followed by staggered payments of $3 million in 2004 and $1 million in 2005. SYSTAT Software, CSILs fully-owned subsidiary, had earlier got the global distribution right for the product line from SPSS.
Asif Khader, managing director, CSIL, told ET that product acquisition also brings in key customers, professionals and fixed assets. In addition, the company gets the option to purchase all related intellectual property, including brand names and trademarks, after three years. With the Sigma-series, Cranes Software has become a significant global player in the scientific software domain, he said.
Sigma-series products are used by scientists and engineers for data presentation and analysis. These offerings compliment Cranes Software Internationals current portfolio of scientific and engineering software products such as SYSTAT, TableCurve2D, TableCurve3D and PeakFit.