Sashi Reddy's AppLabs Technologies acquires KeyLabs

By agencies   |   Tuesday, 26 April 2005, 07:00 Hrs
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PHILADELPHIA, PA: AppLabs Technologies, a software testing and development services company managed by Indian American Sashi Reddy, has acquired KeyLabs, a software and hardware testing and specialized certification services company. The acquisition bolsters AppLabs position as one of the world’s largest independent software testing firms and sets the stage for the company’s expansion into key growth sectors

“AppLabs is focused on maintaining its lead as one of the premier software testing specialists in the world, especially in the year ahead as we move to exponentially grow as a business,” said Sashi Reddi, CEO, AppLabs Technologies. “KeyLabs brings a team of testing experts, as well as a quality assurance lab that ranks among the most advanced in North America to complement our existing team and facility in Hyderabad. AppLabs now has greater resources to extend its reach and growth in both geographical and vertical markets.”

“In the last few years, we have seen an explosion of demand for software testing worldwide, whether for cost savings, independent third-party validation or operational efficiency. By combining our assets, AppLabs and KeyLabs will be more effective as one company with a stronger foothold to take on this $13 billion market opportunity,” said Michael Fahnert, CEO, KeyLabs. “We look forward to joining the AppLabs family, and, together, expanding the combined company’s expertise in software testing and forging a clear path to global leadership.”

Under the terms of the deal, AppLabs will retain all current KeyLabs employees in the company’s headquarters in Lindon, Utah. Mr. Fahnert joins the AppLabs management team as executive vice president and will have responsibility for worldwide client management and service delivery in the U.S. market.

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