Core Projects acquires US tech firm

Core Projects & Technologies, a BPO company, has acquired Atlanta-based Software Technical Services (STS) in cash and stock deal.

However, the financial details of the acquisition have not been known. STS is a professional services company with revenues worth $8 million.

The acquisition will enable Core to offer its international clients a hybrid onsite-offshore model and reduce turnaround time. It will also help the company to gain a footprint in the US, Core said in a release here today.

STS has a clientele comprising Amazon.com, AT&T, Bell South, IBM, MCI, PricewaterhouseCoopers, Siemens, Sun MicroSystems, Wal-Mart and Yamaha, among others. It also has partnerships with Air2Web, Groove Networks, Georgia Institute of Technology and HCL Perot System.

Core has plans to infuse up to $2 million in STS over the next six-month period, under an attempt to ramp up operations.

This is Core's second acquisition in Atlanta. In December 2005, the company had acquired Enterprise Computing Services (ECS), a solutions company.