INDIA BUSINESS WORLD - OCTOBER 21^st - NOVEMBER 15^th - 2007

BANGALORE BASED MINDTREE CONSULTING BUYS PURPLE VISION FOR $6.5M

Bangalore-based MindTree Consulting has acquired the Indian subsidiary of French company TES Electronic Solutions SA in an all-cash deal of $6.55 million. The unit, TES-PV Electronic Solutions (Purple Vision), provides differentiated services in IC design and employs 150 people.

The transaction will become effective upon completion of closing conditions and is expected in 4-6 weeks. "With this, MindTree's IC design team will be a formidable size of 350 professionals, making it one of the largest independent design services organisations in India. The domain expertise of Purple Vision will complement MindTree's existing offerings, enabling us to bid for end-to-end chip design projects," said Janakiraman S, President and CEO - R&D Services, MindTree Consulting.

Founded in 2000, Purple Vision was acquired by TES in 2005. It is a leading third-party service provider in Design for Testability (DFT), having developed and licensed its IP in EDA methodologies. Purple Vision's customers include top semiconductor companies, consumer electronics, networking and telecom systems firms. TES Electronics Solutions CEO Michel Desbard said, "TES wants to focus on growing and developing its embedded hardware and software capability in India as part of our overall custom design and manufacturing strategy."

Over the past seven years, MindTree has built capabilities in design, verification, design for testability, physical design and analog design. It also provides semiconductor IPs in the short range wireless areas. It acquired Delhi-based ASAP Solutions in 2004 and Bangalore-based Linc Software Services in 2005 to enhance its presence in the application development and maintenance domains for IBM mid-range systems.