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Cranes Software acquires U.S. based firm
Wednesday, 09 January 2008, 02:12 IST
Pune: Bangalore based Cranes Software International(CSIL) has acquired U.S. based Engineering Technology Associates (ETA), a company specialising in computer-aided engineering products for the automotive industry.
Announcing the acquisition through a press release, Asif Khader, managing director, CSIL, said: "The acquisition gives Cranes access to lucrative Asian markets and thereby expands our operations of the Chinese design centre by forming alliances with leading Asian car manufacturers for end-to-end design and development specifications."
The Michigan headquartered ETA is a vendor to the top three U.S. car manufacturers. ETA's expertise lies at developing computer-aided engineering-centric products for auto safety, vibration, and noise testing under simulated conditions.
It has an advanced design and product development centre in China. CSIL will expand the design and development efforts between its Bangalore centre and ETA-China operations headquartered in Shanghai.
Cranes currently provides software solutions and services across the globe. It has presence in 39 countries across the world with a 350,000 global user base. The company has acquired ETA through its U.S. based subsidiary Cranes Software.
Cranes will invest some 
720 million in this deal, including the cost of operation to expand market reach.
"The acquisition of ETA has added a tremendous boost to our product portfolio for the auto industry," said Khader.
Source: IANS
720 million in this deal, including the cost of operation to expand market reach.
"The acquisition of ETA has added a tremendous boost to our product portfolio for the auto industry," said Khader.
Source: IANS
