Keane acquires SignalTree for to $62 m

NEW DELHI: Keane Inc. has fully acquired SignalTree Solutions with paid cash

amounting to $62 million. The deal extends Keane's operations with the addition

of SignalTree's two software development facilities in India and other

operations in the US. SignalTree Solution (India) Ltd. will now be known as

Keane India Ltd.

Keane's core services (55%) is in the business of application designing and

development. SignalTree software development facilities that Keane acquires, at

Noida and Hyderabad, had been evaluated and certified the SEI-CMM on Level 5.

"We chose SignalTree, because of their proven expertise in offsite and

onsite delivery and a strong client relationship" said Parminder Miglani,

MD, Keane India Ltd. " On the other hand SignalTree chose us because of out

solid reputation in the area. The acquisition can be seen as an extended growth

for its Indian operation and has lent to its offshore model. He strategic fit

would provide a positive impact on jobs in both India and abroad."

Boston based Keane Inc. has 40 offices in North America and U.K with more

than 1400 clients. Its competence lies in the area of application outsourcing

and IT management and e-solutions. Parminder pointed out that the acquisition is

to contribute significantly to the Indian Software exports.