Product category: Design Services
News Release from: California Software Labs
Edited by the Electronicstalk Editorial Team on 25 June 2007
Acquisition brings hardware design expertise
California Software Company is acquiring a majority stake in Aspire Communications
California Software Company is set to acquire 51% stake in Aspire Communications, a hardware design services company in a cash and stock deal for an undisclosed amount. Last week the two companies signed a deal, which would culminate in a final share purchase agreement. The process is expected to conclude by July 2007 and to add US $3 million in revenue and $400,000 in net profit to the Calsoft Group in 2007-08.
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Calsoft MD and CEO Sam Santhosh says: 'This will help Calsoft augment its product engineering services'.
'With the hardware design expertise that Aspire Communications brings we can now provide end-to-end solutions in the outsourced product development space'.
Aspire Communications CEO Mahesh K Rao adds: 'We are excited at the opportunity of servicing the Calsoft customer base, especially the BIOS and Flash customers in US and China'.
'Joining the Calsoft group will allow us to grow faster under a bigger umbrella'.
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