Global Edge Software acquires Dearborn Electronics

Global Edge Software have signed a definitive agreement to acquire hundred percent stake in Dearborn Electronics (India) Pvt. Ltd., an unlisted entity specializing in automotive and automation control, communication and information solutions space. This acquisition will strengthen Global Edge's focus on automotive electronics and industrial automotion embedded systems. Dearborn will continue to remain a separate entity as a wholly owned subsidiary of Global Edge Software.

GlobalEdge has been a leader in delivering solutions and services particularly in wireless, platform, multimedia and embedded domains to customers world-wide. GlobalEdge's customers list includes leading semiconductor vendors, CPE device makers, Consumer Electronics Companies, Communications OEMs etc.

Dearborn Electronics India caters to large OEMs and Tier I suppliers providing embedded software solutions and services focusing on Diagnostics, ECU Software Systems and Control Systems for the Automotive & Industrial Automation segments.

"This acquisition supports GlobalEdge's current strategy to enter vertical sectors and expand its portfolio in global and domestic markets. With this acquisition, GlobalEdge will be well placed to tap into newer segments like automotive electronics and industrial automation providing enhanced value to customers." said Mr. M P Kumar - Chairman & CEO, Global Edge Software Ltd.

Commenting on the development, Mr. Srinivas Prasad, Managing Director, Dearborn Electronics (India) Pvt. Ltd said, "We are excited to join Global Edge Software. The synergy with Global Edge Software provides sector expertise, embedded domain knowledge and quality processes. While our clients will continue to grow, they will also benefit from the breadth and depth of next-generation solutions that Global Edge Software offers".

Mr. Anand Mutalik, CEO of Dearborn Electronics (India) Pvt. Ltd said, "We are very happy and excited about this partnership that will add greater value to our clients. We are confident that Dearborn, which has strong presence in automotive and industrial automation, will reach greater heights with GlobalEdge."

Mr. Srinivas Prasad will continue to be on the Board of Dearborn India and Mr. Anand Mutalik will continue as CEO of Dearborn India post acquisition. Mr. Anand brings in 3 decades of experience in IT industry and had been one of the core promoters of Kshema Technologies which was acquired by Mphasis.

Source : Equity Bulls

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