France based ALTEN Group has forayed into India with the acquisition of Chennai & Bangalore based Calsoft Labs. ALTEN Group is a leading European Engineering Consulting Group headquartered in Paris.
Ramandeep Singh, CEO, Calsoft Labs said the acquisition has made Calsoft Labs a part of the €916 million ALTEN Group which would provide new growth opportunities for the business and the cross border training and development opportunities for the employees of Calsoft Labs.
The acquisition includes all tangible and intangible assets and retention of management, employees & customers of Calsoft Labs. Calsoft Labs now a 100% owned subsidiary, will retain its brand name and operate as part of the ALTEN Group.
Mr. Simon Azoulay, Founder, Chairman and CEO, ALTEN Group commented that the acquisition is aligned with ALTEN’s long term strategy to substantially grow its Work Package (project team and dedicated structure) based business and maintain “high end” positioning in Technology Consulting and Engineering.
Calsoft Labs with its significant experience in outsourced product development services in segments such as Telecommunications, Embedded and Software products is a perfect match for ALTEN, said Mr Azoulay.
According to Mr Azoulay, ALTEN’s focus for next 3 years would be to expand its presence in India by adding top notch engineering talent to the existing teams and offer scalable, quality driven offshore product development capability to its customer base in Europe.
ALTEN is the European leader in Technology Consulting and Engineering (TCE) and has about 12,600 employees in 11 countries worldwide. ALTEN’s market covers the full range of consulting services, technical assistance, performance of fixed price projects and outsourced platforms in the field of Technology Consulting and Engineering (TCE) as well as Information Systems and Networks.
Gerald Attia, Deputy CEO and co-founder, ALTEN noted that the acquisition of Calsoft Labs marks ALTEN’s entry into one of world’s most dynamic and fastest growing economies. This acquisition would not only add additional off-shore capabilities in India for worldwide ALTEN projects but also provide ALTEN with an opportunity to leverage its technical expertise in growth segments such as Aerospace, Defense, Automobiles & Energy for domestic India market, said Mr Attia.
Calsoft Labs has more than ten years experience in providing product engineering services to customers worldwide with infrastructure facilities in Bangalore, Chennai & Mysore employing around 650 people.
Calsoft Labs operates dedicated product development centers for customers and also implements complex projects on a turnkey basis for Telecom, Consumer Electronics and Software Product companies.
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