Altran acquires
GlobalEdge, an India-based product engineering company specialized
in IoT connectivity and embedded software
-
GlobalEdge increases Altran's presence in India,
reinforcing significantly the Group's Industrialized
GlobalShore(TM) end-to-end delivery capabilities
-
GlobalEdge will help accelerate Altran's
commercial footprint development in North America, with strong
US-based blue-chip companies
-
GlobalEdge is aligned with Altran's strategy to
reinforce its operations with the Semi-conductor, Telecom,
Automotive and Software/Internet industries
-
The acquisition provides Altran with deep
expertise in connectivity technology, and supports Altran's overall
software strategy
Altran has today announced the
acquisition of GlobalEdge Software Limited, an India-based product
engineering company specialized in embedded software solutions and
IoT Solutions. The company serves mostly the Semiconductor,
Telecoms and Automotive industries, but also addresses a larger
range of industry segments such as Software & Internet and
Consumer electronics, with many blue-chip clients.
Headquarted in Bangalore with a
branch in Hyberabad and two specific client locations in Chennai
and in Mumbai/Pune, the acquisition of GlobalEdge significantly
increases Altran's presence in India with additional 1,000
engineers. The critical size achieved will improve Altran's
Industrialized GlobalShore(TM) delivery capabilities and accelerate
Altran India's strategy to increase penetration in US Groups with
Indian captive centers.
GlobalEdge accelerates Altran's
commercial footprint in North America, with a desirable and
balanced client base of blue-chip companies mainly headquarted in
the US, to which GlobalEdge offers a unique delivery model with a
dedicated Californian-based team of several dozens engineers.
The acquisition provides Altran
with deep expertise in the latest mobile connectivity technology
and emerging technologies such as 5G. It will reinforce the leading
edge expertise of the Altran's Advanced Network World Class Center
created earlier this year. GlobalEdge also strengthens Altran's
high-end expertise in embedded software development and testing.
GlobalEdge has strong knowledge in the development of embedded
software solutions and services to enable diverse applications
across industry segments. The company owns its own product IP
frameworks focused on connectivity, and offers a highly automated
connectivity lab-as-a-service, currently sold to a number of major
clients.
Commenting on this acquisition,
Dominique Cerutti, Chairman & CEO of the Altran Group stated:
"I am delighted to announce the acquisition of
GlobalEdge, which is strategically aligned with the objectives of
Altran 2020. Ignition. GlobalEdge has shown its capacity to
generate steady and profitable growth while diversifying its
portfolio in industries which are strategic priorities for Altran.
The company will actively support the expansion plans of Altran
North America, thanks to its clear positioning with a strong focus
on marquee clients, and high value-added solutions that could be
leveraged at Altran Group level to accelerate growth."
MP Kumar, Founder and CEO of
GlobalEdge, added: "We are thrilled to be able to
take superior end-to-end solutions to our clients based on Altran's
expertise in product development and intelligent systems. Being a
part of Altran gives our employees greater opportunities for growth
and to create greater value for our clients in dramatically
different ways. We believe the combination creates an unbeatable
force in the IoT, connectivity and embedded world that can provide
solutions that address many more industries."
Founded in 2001, GlobalEdge is
currently held by the founders and their families, Coffee Day
Trading Ltd. (formerly known as Global Technology Ventures) and
ESOP. The acquisition is subject to customary closing conditions
and expected to be completed in September 2017.
Legal and Financial
Information:
Altran advisors:
- Legal: K&L Gates, HSA Advocates
- Financial, Tax and Legal Due Diligence: KPMG India, K&L
Gates, HSA Advocates
GlobalEdge advisors:
- M&A and Tax: EY India
- Legal: P&A Law Offices
About
Altran
As a global leader in Engineering
and R&D services (ER&D), Altran offers its clients a new
way to innovate by developing the products and services of
tomorrow. Altran works alongside its clients on every link in the
value chain of their project, from conception to industrialization.
For over thirty years, the Group has provided its expertise to key
players in the Aerospace, Automotive, Defence, Energy, Finance,
Life Sciences, Railway, and Telecom sectors, among others. In 2016,
the Altran group generated revenues of €2.120bn. With a headcount
of more than 30,000 employees, Altran is present in more than 20
countries.
www.altran.com
About GlobalEdge
Software Limited
Founded in 2001, Global Edge
Software Limited, headquarted in Bengaluru, is an embedded product
engineering and testing services company primarily working in the
Semiconductor, Automotive, Consumer Electronics, Telecom, IoT and
Industrial sectors. With a headcount of 1000 employees,
GlobalEdge provides product design, development and testing
services that encompass software and electronics design to its
customers primarily in the US region. With a portfolio of products,
middleware solutions and test automation frameworks GlobalEdge
gives its customers a 'time-to-market' edge.
www.globaledgesoft.com
Contacts
Altran
Group
Albin Jacquemont
Executive Vice-President and CFO
Tel: + 33 (0)1 46 41 71 89
comfi@altran.com
Stéphanie
Bia
Group VP Investor Relations
Tel: + 33 (0)1 46 41 71 89
comfi@altran.com
Marine
Boulot
Group Vice-President Communications
Tel: + 33 (0)1 46 41 71 73
marine.boulot@altran.com
Press
relations
Shan
Candice Baudet Depierre, directeur conseil
Tel: +33 (0)1 44 50 51 71
candice.baudetdepierre@shan.fr
Anne Vernois, directeur
associé
Tel: + 33 (0)1 44 50 51 75
anne.vernois@shan.fr
Follow us on
Twitter:
@Altran
#Altran2020
DISCLAIMER
This press release contains forward-looking
statements (as defined in the United States Private Securities
Litigation Reform Act, as amended) based upon current management
expectations. Numerous risks, uncertainties and other factors
(including, risks relating to: government legislation affecting our
businesses; competition; our ability to manage rapid technological
change in the industries in which we compete; litigation risks,
labour issues; unanticipated costs from disposals or restructuring)
may cause actual results to differ materially from those
anticipated, projected or implied in or by the forward-looking
statements. Many of the factors that will determine our future
results are beyond our ability to control or predict. These
forward-looking statements are subject to risks and uncertainties
and, therefore, actual results may differ materially from our
forward-looking statements. You should not place undue reliance on
forward-looking statements which reflect our views only as of the
date of this presentation. We undertake no obligation to revise or
update any forward-looking statements, or to make any other
forward-looking statements, whether as a result of new information,
future events or otherwise.
PR GlobalEdge
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Source: ALTRAN TECHNOLOGIES via Globenewswire