Sasken Communication Technologies (Sasken), a pioneer in telecom R&D and professional services has announced an agreement with USA based Ingenient Technologies (Inc) that positions Sasken as a global leader in multimedia software solutions and widens Sasken's customer base to include Consumer electronics vendors. As a Dart of this agreement, Sasken will acquire the product portfolio as well as certain customer contracts and certain assets of Ingenient. Ingenient will also transfer engineering and sales teams (including some in Korea and Japan) to Sasken.
Founded in 2000, Ingenient is a global provider of embedded multimedia software solutions to multinational companies ranging in size from tier one original equipment manufacturers to high-tech startups. Ingenient's software solutions enable the creation, delivery, management and presentation of rich multimedia content. Utilizing these software solutions, Ingenient's customers can quickly create leading-edge multimedia products for the consumer electronics. enterprise, security & surveillance and infrastructure markets.
In line with Sasken's strategy of diversifying its portfolio and expanding into market adjacencies like consumer/automotive electronics, it has entered into an agreement to acquire Ingenient Multimedia softv/are offerings providing an excellent complementary fit.Sasken strengths in the area of professional services will allow it to extend the product offerings of Ingenient leading to greater share of wallet with their existing marquee customers. The ability to provide multimedia solutions to the consumer lifestyle which leads the personal communication market will put Sasken in a position of advantage to exploit imminent convergence ahead of competition.The transferred engineering employees in USA will form the core of Sasken's Chicago development center. Sasken will now have a development center in the US which will be a beachhead for new product development supported by a competitive multi-site service delivery model. Sasken will now have a presence in Korea and will strengthen its existing center in Japan, epicenters for development of consumer and lifestyle products.
The company made this announcement after the trading hours today, 27 october 2009.