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Aspire System Buys Belgian IT Firm Applied Development [DealCurry (India)]
[April 22, 2014]

Aspire System Buys Belgian IT Firm Applied Development [DealCurry (India)]


(DealCurry (India) Via Acquire Media NewsEdge) Chennai based Aspire Systems (India) Private Limited has bought Belgian based IT offshoring company Applied Development for an undisclosed amount. The buy strengthens company's presence in the European markets like Benelux and Germany.



Post the deal Applied Development will be rechristened to Aspire Systems N.V and its team in Chennai has been moved to Aspire's campus in Siruseri.

This the second buy within the last six months. The two recent acquisition is expected to give Aspire incremental revenue of around $4 Mn and increase the employee strength to around 1,400.


The company had acquired Versant Technologies in December last year which had revenues of R10 Cr and an employee strength of 70 and back in 2011, Aspire had acquired Cincom, a captive centre with 55 employees.

Founded by Bipin Nambiar and Ivan Vercruysse, Applied Development is an IT offshoring company that develops software for European companies in India with focus on small and medium sized projects.. With an employee strength of 50 the company had posted revenues worth R10 Cr for the last fiscal.

Aspire which counts Pearson and Fidelity Investments among its clients is aiming at to be a $100-Mn company in three to four years through similar buys. It had revenues of $31 Mn for the last fiscal.

Founded by Gowri Shankar Subramaniam in 1996 Aspire Systems is an IT services company with Offshore Development Centers in Gurgaon & Chennai. Its services include product engineering, enterprise transformation, independent testing services and it infrastructure support services.

Other recent deals; Symphony Teleca Corp, a software development services company, was acquiring Bangalore based Aditi Technologies for around R450-480 Cr; Essar's outsourcing services arm @Aegis_Limited has acquired Malaysia based BPO firm, Symphony House Berhad for a consideration of R41.3 Cr; BirlaSoft (India) had acquired US based CRM solutions provider EnablePath for an undisclosed amount (c) 2014 EagleEye Research & Media Pvt. Ltd. All rights reserved. Provided by Syndigate.info, an Albawaba.com company

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