Chennai, India, July 10, 2014: Aspire Systems, a global technology services firm with a strong DNA in Product Engineering, today announced the signing of a transfer agreement with SRA Systems and its US Subsidiary, 3S. As a result of this agreement, the services business of SRA will move to Aspire and over 120 people from SRA will now become a key part of Aspire’s team. This transaction will strengthen Aspire’s existing Product Engineering Services portfolio with the capability to design and optimize hardware products. Aspire will add 15 new customers to its portfolio and increase its revenue by 20%.
Aspire Systems will now be able to offer new Engineering Services capabilities in New Product Development (NPD), Engineering R&D and Computer Aided Engineering (CAE). This transaction will also help Aspire gain a strong foothold in the Automotive, Manufacturing and Medical Device sectors.
Chairman and CEO of Aspire Systems Gowri Shankar Subramanian said, “Aspire has its roots in Product Engineering. This transaction is an extremely strategic step for us as it complements our existing capabilities in product engineering and reinforces our position as a leader in outsourced product development (OPD). The top management of SRA Systems will become a key part of Aspire and play critical roles within the organization, helping integrate the teams and driving further growth. Along with many other synergies due to this transaction, we can now count Apple, Forest Labs and Gymboree as our customers!”
V. Kannan, Joint Managing Director and CEO, SRA Systems, said, “Aspire has strong Product Engineering capabilities with proven solutions for global enterprises. We truly believe that this association will add great value to our existing customers. We will now have a broader portfolio of services for our customers and also open up new career opportunities for our employees.”