SEATTLE, Washington and BANGALORE, India, April 19, 2010 /PRNewswire/ -- Aditi Technologies, a leading provider of software product and application development services, today announced that it has signed a definitive agreement with Infospace, Inc. (NASDAQ, INSP) to acquire its Indian subsidiary, Infospace India Software Development Pvt. Ltd., a developer of metasearch and online consumer products. The terms of the transaction have been approved by both Aditi's and Infospace's Board of Directors.
Established in 2007, Infospace India is engaged in online product development, software engineering, and product testing for INSP's global product portfolio. Infospace (India) has its development center in Bangalore.
The acquisition of Infospace aligns well with our focus of establishing an account base of stable and long-term engagements and further highlights the trust that leading software vendors have in our ability to deliver quality products faster, said Pradeep Rathinam, CEO, Aditi Technologies. Infospace is a global technology leader in metasearch products and this acquisition makes them a major strategic client for Aditi Technologies. With this relationship, India has become one of the key markets for us and we will look ahead for more similar opportunities in the market.
This arrangement provides us with the operational efficiency and continued access to quality engineering talent needed to drive our product development strategy, said Leo Chang, CTO, Infospace Inc. We look forward to strengthening our existing relationship with Aditi and their continued support.
As part of its engineering business, Aditi offers high end consulting, technology and application development services to Enterprise clients from cloud to business intelligence on the Microsoft platform. The acquisition will fuel Aditi's competency in the growing search practice working with one of the largest ad monetizing platforms, a key segment that we are focusing. said Vineet Kumar Arora, Managing Director, Aditi Technologies.
As Aditi moves from being a pure services player to an IP based software solutions provider, it is growing rapidly with organic and inorganic means and is poised for an aggressive growth plan with this acquisition forming a key piece of that strategy.
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About Aditi Technologies:
Founded in 1994, Aditi pioneered the idea that great software products can be built out of India. Today, Aditi represents the best Microsoft software development capability in the world. Strengthened by innovative IP solutions, leading global enterprises and software product companies rely on Aditi to predictably deliver quality products and applications. Headquartered in Bangalore - India, Aditi has offices in Seattle, Boston, London, Mountain View, and New York City. To learn more, visit http://www.aditi.com
For More Info: Sandish Handa Lead - Marketing Communications Aditi Technologies Contact- +91-80-66105600, Email: firstname.lastname@example.org
SOURCE: Aditi Technologies Pvt. Ltd
CONTACT: For More Info: Sandish Handa, Lead - Marketing Communications,Aditi Technologies, Contact- +91-80-66105600, Email: email@example.com .