Scientific and engineering software solutions provider Cranes Software International Ltd. has announced acquisition of Engineering Mechanics Research Corporation (EMRC) in India, with its customers, brand names, trademarks, ongoing contracts, personnel and fixed assets.
EMRC, started in 1973, is the developer of NISA suite of products and a pioneer in the field of computer aided engineering (CAE). It provides consulting services and customised software in this domain and has a total manpower strength of 40, including highly-skilled scientists, in the Indian subsidiary. EMRC is an International centre for engineering and computer technology in Troy, Michigan, USA.
"This acquisition will immediately give access to Cranes Software to diversify into an expanded market in the scientific and engineering software specifically in the engineering services domain," said Asif Khader, managing director, Cranes Software International, while announcing the acquisition. The consideration for the acquisition is part of a deal of $1.5 million, including the US arm of the EMRC operation, currently waiting some statutory clearances in the US.
"EMRC provides comprehensive capabilities in the computer aided engineering (CAE) space with high quality products suite many years of product experience and extensive global usage backed by a worldwide sales and support organization. Its acquisition is in line with our strategy of purchasing undervalued assets that provide substantial growth potential by leveraging our existing strengths and capacities" said Khader.