Chennai-based technology services firm Aspire Systems Pvt Ltd is acquiring the services division of SRA Systems for an undisclosed amount, according to a press release. The acquisition is part of Aspire’s efforts to strengthen its product engineering capabilities and acquire marquee customers such as iPhone maker Apple, among others.
The deal will involve transfer of over 120 employees in the services unit and will strengthen Aspire’s presence in the automotive, manufacturing and medical device sectors. With the acquisition, the revenue of Aspire will be increased by 20 per cent, along with 15 new customers that it will add to its portfolio.
“This transaction is an extremely strategic step for us as it complements our existing capabilities in product engineering and reinforces our position as a leader in outsourced product development (OPD). The top management of SRA Systems will become a key part of Aspire and play critical roles within the organisation, helping integrate the teams and driving further growth. Along with many other synergies due to this transaction, we can now count Apple, Forest Labs and Gymboree as our customers,” Gowri Shankar Subramanian, chairman and CEO, Aspire Systems, said.
“We truly believe that this association will add great value to our existing customers. We will now have a broader portfolio of services for our customers and also open up new career opportunities for our employees,” V Kannan, joint managing director and CEO, SRA Systems, said.
Earlier in December, Aspire completed the acquisition of Versant Technologies Pvt Ltd, a Hyderabad-based technology company, for an undisclosed amount.
Founded by Gowri Shankar Subramanian in 1996, Aspire Systems provides product engineering, enterprise transformation, independent testing services and IT infrastructure support services. It has offices in the US, the UK, Germany and UAE besides India. The firm has over 1,150 employees and serves 60 clients globally.
(Edited by Joby Puthuparampil Johnson)