| Press release |
| 05.09.2017 |
| |
Altran acquires GlobalEdge, an India-based product engineering company specialized in IoT connectivity and embedded software
- GlobalEdge increases Altran's presence in India, reinforcing significantly the Group's Industrialized GlobalShore(TM) end-to-end delivery capabilities
- GlobalEdge will help accelerate Altran's commercial footprint development in North America, with strong US-based blue-chip companies
- GlobalEdge is aligned with Altran's strategy to reinforce its operations with the Semi-conductor, Telecom, Automotive and Software/Internet industries
- The acquisition provides Altran with deep expertise in connectivity technology, and supports Altran's overall software strategy
Altran has today announced the acquisition of GlobalEdge Software Limited, an India-based product engineering company specialized in embedded software solutions and IoT Solutions. The company serves mostly the Semiconductor, Telecoms and Automotive industries, but also addresses a larger range of industry segments such as Software & Internet and Consumer electronics, with many blue-chip clients.
Headquarted in Bangalore with a branch in Hyberabad and two specific client locations in Chennai and in Mumbai/Pune, the acquisition of GlobalEdge significantly increases Altran's presence in India with additional 1,000 engineers. The critical size achieved will improve Altran's Industrialized GlobalShore(TM) delivery capabilities and accelerate Altran India's strategy to increase penetration in US Groups with Indian captive centers.
GlobalEdge accelerates Altran's commercial footprint in North America, with a desirable and balanced client base of blue-chip companies mainly headquarted in the US, to which GlobalEdge offers a unique delivery model with a dedicated Californian-based team of several dozens engineers.
The acquisition provides Altran with deep expertise in the latest mobile connectivity technology and emerging technologies such as 5G. It will reinforce the leading edge expertise of the Altran's Advanced Network World Class Center created earlier this year. GlobalEdge also strengthens Altran's high-end expertise in embedded software development and testing. GlobalEdge has strong knowledge in the development of embedded software solutions and services to enable diverse applications across industry segments. The company owns its own product IP frameworks focused on connectivity, and offers a highly automated connectivity lab-as-a-service, currently sold to a number of major clients.
Commenting on this acquisition, Dominique Cerutti, Chairman & CEO of the Altran Group stated: "I am delighted to announce the acquisition of GlobalEdge, which is strategically aligned with the objectives of Altran 2020. Ignition. GlobalEdge has shown its capacity to generate steady and profitable growth while diversifying its portfolio in industries which are strategic priorities for Altran. The company will actively support the expansion plans of Altran North America, thanks to its clear positioning with a strong focus on marquee clients, and high value-added solutions that could be leveraged at Altran Group level to accelerate growth."
MP Kumar, Founder and CEO of GlobalEdge, added: "We are thrilled to be able to take superior end-to-end solutions to our clients based on Altran's expertise in product development and intelligent systems. Being a part of Altran gives our employees greater opportunities for growth and to create greater value for our clients in dramatically different ways. We believe the combination creates an unbeatable force in the IoT, connectivity and embedded world that can provide solutions that address many more industries."
Founded in 2001, GlobalEdge is currently held by the founders and their families, Coffee Day Trading Ltd. (formerly known as Global Technology Ventures) and ESOP. The acquisition is subject to customary closing conditions and expected to be completed in September 2017.
Legal and Financial Information:
Altran advisors:
- Legal: K&L Gates, HSA Advocates
- Financial, Tax and Legal Due Diligence: KPMG India, K&L Gates, HSA Advocates
GlobalEdge advisors:
- M&A and Tax: EY India
- Legal: P&A Law Offices
About Altran
As a global leader in Engineering and R&D services (ER&D), Altran offers its clients a new way to innovate by developing the products and services of tomorrow. Altran works alongside its clients on every link in the value chain of their project, from conception to industrialization. For over thirty years, the Group has provided its expertise to key players in the Aerospace, Automotive, Defence, Energy, Finance, Life Sciences, Railway, and Telecom sectors, among others. In 2016, the Altran group generated revenues of €2.120bn. With a headcount of more than 30,000 employees, Altran is present in more than 20 countries.
www.altran.com
About GlobalEdge Software Limited
Founded in 2001, Global Edge Software Limited, headquarted in Bengaluru, is an embedded product engineering and testing services company primarily working in the Semiconductor, Automotive, Consumer Electronics, Telecom, IoT and Industrial sectors. With a headcount of 1000 employees, GlobalEdge provides product design, development and testing services that encompass software and electronics design to its customers primarily in the US region. With a portfolio of products, middleware solutions and test automation frameworks GlobalEdge gives its customers a 'time-to-market' edge.
www.globaledgesoft.com
Contacts
Altran Group
Albin Jacquemont
Executive Vice-President and CFO
Tel: + 33 (0)1 46 41 71 89
comfi@altran.com
Stéphanie Bia
Group VP Investor Relations
Tel: + 33 (0)1 46 41 71 89
comfi@altran.com
Marine Boulot
Group Vice-President Communications
Tel: + 33 (0)1 46 41 71 73
marine.boulot@altran.com
Press relations
Shan
Candice Baudet Depierre, directeur conseil
Tel: +33 (0)1 44 50 51 71
candice.baudetdepierre@shan.fr
Anne Vernois, directeur associé
Tel: + 33 (0)1 44 50 51 75
anne.vernois@shan.fr
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DISCLAIMER
This press release contains forward-looking statements (as defined in the United States Private Securities Litigation Reform Act, as amended) based upon current management expectations. Numerous risks, uncertainties and other factors (including, risks relating to: government legislation affecting our businesses; competition; our ability to manage rapid technological change in the industries in which we compete; litigation risks, labour issues; unanticipated costs from disposals or restructuring) may cause actual results to differ materially from those anticipated, projected or implied in or by the forward-looking statements. Many of the factors that will determine our future results are beyond our ability to control or predict. These forward-looking statements are subject to risks and uncertainties and, therefore, actual results may differ materially from our forward-looking statements. You should not place undue reliance on forward-looking statements which reflect our views only as of the date of this presentation. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
