Cranes acqires ETA, to pump in 72 crores

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New Delhi, Jan 7: Bangalore-based Cranes Software International Ltd (CSIL) today said it will invest Rs 72 crore in US-based Engineering Technology Associates (ETA), which it has acquired through its subsidiary Cranes Software Inc.

''This acquisition gives the company access to the lucrative Asian markets and thereby expand the operations of the Chinese design centre by forming alliances with leading Asian car manufactures for end-to-end design and development specifications,'' company's Managing Director Asif Khader said in a statement.

CSIL will synergise and expand the design and development efforts between the Bangalore and ETA-China operations with headquarters in Shanghai.

A specialied auto consulting and product development firm, ETA develos Computer Aided Engineering (CAE) centric products for auto safety, vibration, and noise testing, under simulated conditions.


UNI

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