Telelogic acquires I-Logix for $80 million

By Staff
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Google Oneindia News

Bangalore, Mar 07: Telelogic, a leading software solutions provider, today announced the acquisition of US-based I-Logix, provider of modeling tools for the embedded market, in an all-cash deal worth 80 million Dollars.

In a release here, Telelogic India Managing Director Sidharth Malik said ''Telelogic has identified I-Logix as a highly successful, fast growing company with a market leading product that ideally complements Telelogic's offering in the modeling space as well as many of our other products, especially those with a focus on embedded applications.''

Telelogic President and Chief Executive Officer Anders Lidbeck said ''I-Logix has become a tough competitor in the past few years with a strong modeling offer focused on embedded systems and software development. Their products have an edge in embedded development and have managed to secure a top position in that market.

By combining our two companies, Telelogic will be able to even better address our customers' needs for developing advanced systems and software, for both the enterprise and projects.

We will undoubtedly be number one in this space. I-Logix Chief Executive Officer Gene Robinson said, ''I-Logix's products strongly complement Telelogic's and together our combined solutions and resources will benefit all of our customers. We chose to become a part of Telelogic family because we believe in their vision to assemble the broadest array of 'dream-team' products and solutions for our combined market.''

UNI

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