IT & engineering services company Global Economic Advantage Pvt Ltd has acquired Samtel Engineering and Sourcing Solutions Pvt Ltd, which is engaged in engineering and outsourcing solutions, for an undisclosed amount.
The transaction also involves sale of a wholly owned German arm, which was acting as Samtel Engineering’s front office to service European clients.
Samtel Engineering is a part of the Samtel Group, best known for making television picture tubes besides display products for avionics and medical equipment.
The firm was acquired by Gurgaon-based Global Economic Advantage along with Kanpur-based Laans Portfolios. Global Economic Advantage supports clients in the IT and engineering space in North America and India. Its services include software application development, web application development and IT staffing solution.
HSA Advocates acted as legal advisor to Samtel Engineering on this deal.
(Edited by Joby Puthuparampil Johnson)