Friday, October 24, 2008

SILVER, ATENA FORM SAFETY ENGINEERING SERVICES JV

Thanuja B M, Bangalore
Financial Chronicle

Anglo-Indian firm Silver Software, which has a Bangalore presence, has announced its merger with Germany’s Atena Engineering and formed a joint venture — Silver Atena. The merged entity plans to double headcount and revenues in next four years.

Currently, the company employs about 500 people of which 200 are in the Bangalore development centre. Senthil Kumaran, MD of Silver Atena India said the plan is to hike total headcount to 900 people in next four years. Over 550 staff will be based in India.

Silver Atena provides software and safety engineering services for aerospace and railway segments. Clients include GE Aviation, Ultra Electronics, BMW, Daimler Chrysler and Airbus.

The firm is aiming to have combined revenues of $50 million in 2008 and double that in next four years, Kumaran said.

Expansion plans will see the company add three more development centres in US, Israel and Europe.

It has four development centres now — Bangalore, Malmesbury in UK, Munich in Germany and Madrid in Spain.

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