Aspire buys SRA Systems’ services biz

TE Raja Simhan Chennai | Updated on July 09, 2014

Post-acquisition, company will get Apple, Forest Labs and Gymboree as customers

Aspire Systems, a Chennai-based mid-size technology company, has acquired the services division of SRA Systems, also a city-based company, for an undisclosed amount. This will enhance Aspire’s existing product engineering capabilities and get Apple, Forest Labs and Gymboree as its customers, said Gowri Shankar Subramanian, CEO.

Aspire has completed a transfer agreement with SRA Systems and its US subsidiary 3S will acquire the services business that employs nearly 120 people. While about 100 of them in Chennai will be integrated with Aspire’s centre at Siruseri, the rest are in Chicago, where Aspire, too, has a centre, he said. Subramanian declined to give details on what the company is doing for Apple.

Third acquisition

This is the third small size company that Aspire has acquired in the last eight months. It bought Applied Development of Belgium in April and Hyderabad-based Versant Technologies in December.

Through the new acquisition, Aspire will get the capability to design hardware products for auto component and medical equipment clients. This could be right from the design stage to a product roll-out, or Aspire could be an extended arm of the client in designing a product, the CEO said.

Hardware, software and embedded technology are coming together. For instance, a truck axle with a chip can send information on the tyre condition or the load, which can be analysed in a remote place to improve the efficiency of the vehicle. Aspire now has capability in all the three areas, Subramanian said.

Versant gave Aspire the capability on Oracle retail while Applied Development helped the company expand in Europe particularly in the Benelux region. The focus now is on integration and organic growth, he told Business Line.

Subramanian expects Aspire’s revenue to grow to $42-45 million (₹250-270 crore) by the end of the current fiscal, from $30 million last year. The three companies are likely to bring in a revenue of $7-8 million, he said.

Published on July 09, 2014

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