Cranes Software International Limited, Bangalore headquartered, scientific and engineering software solutions provider, has agreed to buy Engineering Mechanics Research Corporation (EMRC) in India with its customers, brand names, trademarks, ongoing contracts, personnel and fixed assets.
Cranes told the stock exchanges on Monday, EMRC is the developer of NISA suite of products and a pioneer in the field of Computer Aided Engineering (CAE). The firm provides consulting services and customised software in this domain, Cranes said.
This acquisition will "immediately" help the combine to diversify into an expanded market in the scientific and engineering software specifically in the engineering services domain. The consideration for this acquisition is part of a deal of $1.5 million, including the US arm of the EMRC's operation, currently waiting some statutory clearances in US, Cranes said.
Asif Khader, Managing Director of Cranes said, "EMRC provides comprehensive capabilities in the computer aided engineering with a high quality products suite, many years of product experience and extensive global usage backed by a worldwide sales and support organisation."
Its acquisition is in line with Cranes' strategy of purchasing undervalued assets that provide substantial growth potential by leveraging its existing strengths and capabilities, Khader said. "We have now addressed the vast potential of the mechanical, civil, automobile, aerospace and electrical engineering market, thereby extending the range of software that we take to engineers globally", he said.