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Aspire Systems, an IT firm focused on independent software vendors, announced the acquisition of Belgium-based IT offshoring company, Applied Development, as part of expanding its operations in Europe.
However, Aspire did not reveal the transaction value of the acquisition.
Applied Development, commenced by Bipin Nambiar and Ivan Vercruysse in Belgium, develops software for European customers in India.
The acquisition would help Aspire to expand into the European market, particularly Belgium, Netherlands and Luxemburg (Benelux).
The acquired firm has around 50 employees in India and Belgium, and recorded a 45 per cent increase in revenues last year, it added. The acquisition was the second by Aspire in the last four months.
Applied Development’s business model runs on a combination of European project management and Indian development.
Gowri Shankar Subramanian, chairman and CEO of Aspire Systems, said, “With this acquisition, Aspire Systems has a truly global presence in the US, UK, West Asia, India and Europe, enabling us to serve the customer needs across the entire world.”
Following completion of acquisition, Applied Development will be renamed as Aspire Systems NV and its current team will continue to drive the existing business while the development team would move to the Aspire’s campus at Siruseri, Chennai.
Bipin Nambiar has been appointed as director of Benelux and Ivan Vercruysse as director of technology at Aspire Systems NV.
Earlier, Aspire had announced the acquisition of Hyderabad-based Versant Technologies in December 2013, to strengthen the company’s solution capabilities for the retail, distribution and consumer goods vertical.
In 2011, it acquired Cincom System’s India Development Center at Gurgaon, added the company.
