Cranes acqires ETA, to pump in 72 crores
{image-Cranes
logo1_07012008.jpg
news.oneindia.in}
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