Altran acquires GlobalEdge, an engineering company set up in India. As GlobalEdge paces ahead in embedded software and IoT connectivity, the organization boosts Altran’s presence across the nation. Moreover, it will also help to speed up the development in North America with the activities of US based companies.
GlobalEdge is working on enhancing Altran’s strategy to support the operations as far as industries related to automotive, telecom and the internet.
Established in Bangalore with one of its offices in Hyderabad and clients located in Chennai and Mumbai, the acquisition would lead to increase presence through additional 1000 engineers. This would have a positive impact on Altran’s Industrialized GlobalShore(TM) delivery capabilities and expedite Altran India’s strategy to boost penetration with Indian captive centers.
While the move would be in full swing, GlobalEdge would offer a delivery model with a team of engineers based in California. The acquisition offers Altran with experts who are aware of up to the minute mobile connectivity technology and other technologies like 5G. It will also transform the arena of testing and embedded software development. With in-depth knowledge gathered from GlobalEdge, many applications would be enabled across the industrial segments. The organization has IP frameworks and is ready to provide automated connectivity lab-as-a-service, presently sold to many clients.
According to the comments of Dominique Cerutti, the Chairman & CEO of the Altran Group, GlobalEdge would be aligned with the 2020 goals of Altran. The firm has served to augment profitable growth while expanding the portfolio with strategic priorities in mind. The company would be active enough to offer support for expansion by focusing on marquee clients and value added solutions which can be used by Altran Group to expedite business growth.
MP Kumar, the Founder and CEO of GlobalEdge further added that the company is happy to deliver superior solutions to one of its clients, Altran. This would actually help in revolutionizing intelligent systems as well product development. Being involved with Altran, would create value and offer employees to grow in their career. GlobalEdge believes that the collaboration would aid in pushing IoT, connectivity and the embedded world, thus dealing with many other industries.
Set up in 2011, GlobalEdge is a venture managed by founders and their family members. Besides, Coffee Day Trading Ltd. and ESOP also play a role when management is concerned.
Once the customary closing conditions are met, the acquisition is expected to complete in September 2017. While the France based multinational would gain control over GlobalEdge, Mr. Kumar will continue to manage daily operations.
With an objective to buy GlobalEdge Software at a price of $65-80 million, the transaction would be signed in a few days. Cafe Coffee Day Enterprises which holds a 25 percent stake in GlobalEdge would avail Rs. 100 crore after the deal is closed. While GlobalEdge and Altran were unable to comment immediately, Siddhartha refused to comment for the report.
Soon after the deal, Altran would acquire GlobalEdge’s business spread in India and cities across USA.