KLG Systel picks stake in Atlantis Lab

BANGALORE, INDIA: KLG Systel Ltd has announced the acquisition of 51 per cent majority stake in Atlantis Lab Pvt. Ltd, an engineering solutions company.

Atlantis Labs, with over 130 employees would now form a subsidiary of KLG Systel Ltd. It plans to grow the newly acquired subsidiary to an estimated 1000 design and analysis seats by the year 2008, KLG Systel said in a statement.

In coming years the subsidiary would set up an ODC (Offshore Design Center) for its global and Indian clients.

The new subsidiary would focus on Automotive, Aerospace, Industrial Machinery, Heavy Engineering, Ship Building, Power and Process verticals where there is a strong demand for Product Design and Product Life Cycle solutions and services.

To tap the high global demand for design and engineering services, KLG Systel has already initiated work in this area by setting up an infrastructure for 1000, state of the art design and analysis stations at its headquarters in Gurgaon (Haryana), India, KLG Systel said in a statement.