Product category:
Electronics Manufacturing Services
News Release from: TES
Edited by the Electronicstalk Editorial
Team on 21 September 2005
Indian acquisition furthers vision of
growth
TES Electronic Solutions has acquired Purple Vision Technologies, an electronic design services company headquartered in Bangalore, India.
TES Electronic Solutions (TES), an independent full-service electronic design and manufacturing company, has completed an agreement to acquire Purple Vision Technologies, an electronic design services company headquartered in Bangalore, India Purple Vision has a strong presence and customer base in India, Japan and the USA
This article was originally published on Electronicstalk on 29 Jun 2006 at 8.00am (UK)
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The acquisition is in line with TES's published strategy to grow its business geographically and to increase its innovative design resources.
With headquarters in France, TES was formed through the acquisition of an electronics design and manufacturing unit of Thales by a consortium of investors in December 2004.
At that time, TES revealed plans to grow to be able to provide services on all continents by the end of 2005.
This acquisition increases TES's global design resources to 500 design engineers in 16 design centres around the world, with strong design capabilities and skills across IC, board, software and full-system design.
This is in addition to over 300 employees in its manufacturing plant in Langon, France.
"We are in a service business that is about helping our customers accelerate success by providing innovation at all levels of the value chain from specification to manufacture", said Michel Desbard, CEO of TES.
"The acquisition of Purple Vision expands our ability to serve global customers at a local level and also to drive innovation".
Purple Vision Technologies has developed a very successful design services business with expertise in still image and moving image processing algorithm development, MPEG-2 audio decoders, MPEG-2 and MPEG-4 decoders/encoders, speech codecs and biometric verification systems.
It has an established presence in both Japan and the USA in addition to India.
"We have successfully served our target markets and have grown our business nicely over the past years", added Balaji, CEO of Purple Vision.
"It is now time to move to the next level and team up with a leading global company so that we can expand more rapidly".
"TES is the leading company in this business and shares our vision of innovation".
"We are looking forward to joining forces with TES".
Financial details of the transaction are confidential.
The acquisition closed on 1st September 2005.
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