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New Delhi, Aug. 27 KLG Systel Ltd, a software company, today announced the acquisition of 51%stake in Atlantis Lab Pvt Ltd, a dedicated engineering software company with over 130 employees.

“Atlantis Labs will now form a subsidiary of KLG Systel Ltd, catering to the strong domestic market, while also tapping engineering services outsourcing opportunities from developed countries such as North America and Europe,” a statement said here. Atlantis Lab portfolio includes product design, design automation, design simulation, tool design, design data migration, and product management software in automobile, aerospace, industrial machinery and heavy engineering.

“The relationship will also provide KLG Systel an opportunity to widen its reach to the three design hubs of the country — Chennai, Pune and Bangalore. Atlantis Lab already has a strong base in these cities.” . KLG Systel plans to hire 1,000 designers and analysts for Atlantis by 2008. The new subsidiary would focus on automotive, aerospace, industrial machinery, heavy engineering, ship building, power and process verticals where there is a strong demand for product management software and services.

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