KLG Systel acquires 51 pc stake in Atlantis Lab

Mumbai, Aug 27 (UNI) KLG Systel, a leading knowledge-based IT-centric Business Life Cycle Solutions company, today announced the acquisition of 51 per cent majority stake in Atlantis Lab, a dedicated engineering solutions company with over 130 employees.

Atlantis Lab will now form a subsidiary of KLG Systel, catering to the strong domestic market and tapping engineering services outsourcing opportunities from developed countries in North America and Europe, a KLG Systel press release said here today.

The relationship will also provide KLG Systel an opportunity to widen its reach to the three design hubs of the country -- Chennai, Pune and Bangalore. Atlantis Lab already has a strong base in these cities.

KLG Systel plans to grow the newly-acquired subsidiary to an estimated 1000 design and analysis seats by the year 2008. The new subsidiary will focus on automotive, aerospace, industrial machinery, heavy engineering, ship building, power and process verticals where there is a strong demand for product design and product life cycle solutions and services, the release added.

UNI