Sasken Communication Technologies Ltd. Acquires Certain Assets of Ingenient Technologies Inc.

BANGALORE (INDIA) AND CHICAGO, IL (USA) - Sasken Communication Technologies Ltd (Sasken), a pioneer in telecom R&D and professional services, today 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 part 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 software 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.

Addressing the media, Rajiv Mody, Chairman of the Board and Chief Executive Officer, Sasken said, “We are tremendously excited by the opportunities that this deal opens up for both Sasken and Ingenient. Sasken has always aimed to be the supplier of choice for embedded R&D services by providing best in class embedded solutions for various applications. Ingenient’s best-in-class multimedia solutions combined with Sasken’s global reach and India based development centers will enable us to offer a compelling portfolio of value added solutions to our customers across the globe.”

Joseph J. Hartnett, President and CEO of Ingenient, adds “With the depth and breadth of Sasken’s engineering resources in India working alongside Ingenient’s highly experienced development team, the combined enterprise will bring new multimedia product and service offerings to our combined customer base at an accelerated and exciting pace. The definitive agreement has been signed between the two companies, and is expected to close on October 27 th, 2009.

About Sasken
Sasken is a global provider of software and support services for the communications industry. Sasken works with Network OEMs, semiconductor vendors, Terminal Devices OEMs and Operators across the world. Global Fortune 500, Tier 1 companies in each of these segments are Sasken's customers. Established in 1989, Sasken employs over 3,200 people at its offices in India, China, Germany, Japan, Mexico, Sweden, UK and the U.S. Sasken is listed in the Bombay Stock Exchange and National Stock Exchange in India. Sasken has consistently been rated as a Best Employer in all leading industry surveys in India. For further information please visit www.sasken.com.

About Ingenient Inc.
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.

Contact:

Syed Shahid Mehdi | Manager Corporate Communications | [email protected]
Tel : +91 80 39893222 | Fax : +91 80 39813329