Financial Daily from THE HINDU group of publications
Wednesday, Apr 27, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 27, 2005 |
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Info-Tech
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Mergers & Acquisitions AppLabs buys US co Our Bureau
Hyderabad , April 26 APPLABS Technologies, a software testing and development services company, has acquired the Utah (US)-based KeyLabs at an undisclosed consideration. The US company, strong in software and hardware testing and specialised certification, would enhance AppLabs offerings in the niche area of testing, Mr Sashi Reddi, Chief Executive Officer of AppLabs, said. Announcing this here at a press conference, he said the demand for software testing had been growing. He put the global size for this market at $13 billion. He said the company might go for second round of venture capital funding to acquire another company. AppLabs was looking for a company that offered similar services in the areas of financial services. "This will help us offer a comprehensive pack of testing services," he said.
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