Symphony Service Corporation (Symphony Services), a global business services outsourcing partner, announced that it has entered into an agreement to acquire In-Reality Software Pvt. Ltd., a Pune, India-based software services firm focused on product development for original equipment manufacturers (OEM) and independent software vendors (ISV). The transaction, which is subject to certain closing conditions, is expected to close during the fourth quarter of 2004.
In-Reality Software's core competencies in storage software, systems software and enterprise applications will enable Symphony Services to expand its technological expertise into these markets, enhancing the capabilities it can offer its clients, across all three of the company's business groups.In addition to complimenting the company's service offerings, this acquisition also gives Symphony the advantage of another India location to service its clients. Prior to this addition, the majority of Symphony's 1,500+ employees were located at its 185,000 sq. ft. Technology Center in Bangalore.
In-Reality is intended to be integrated into Symphony Services' Commercial Software Group (CSG), which provides increased productivity and faster time-to-market for commercial-grade software products and solutions. With software services spanning every stage of the product lifecycle - encompassing development, testing, quality assurance, platform integration, release engineering and customer support, In-Reality's complimentary technologies will expand the expertise and offerings for the commercial software companies that CSG services, helping them to further lower costs and increase productivity.
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