Mon, Dec 5, 2016 | updated 06:06 PM IST

TransForm Solution acquires majority stake in ADAPT technology

Updated: Nov 21, 2016 18:18 IST

New Delhi [India], Nov 21 (ANI-BusinessWireIndia): TransForm Solution (TransForm), an established BPO company offering custom operations and back office services and solutions to organizations globally, today announce its acquisition of ADAPT Technology (ADAPT), a Detroit-based global engineering services firm. The acquisition of a controlling stake reflects TransForm's aggressive growth plans for the U.S. market and its expansion into the Fortune 500 market.

"We are excited to have ADAPT Technology as part of the TransForm family. We are looking to expand significantly in the US market organically and through M and A initiatives, and this is an important step towards that goal. With this acquisition, we also now have the ability offer a comprehensive suite of services to customers as ADAPT's engineering services complement our BPO offerings well. With this expansion, our U.S. footprint now includes the Northeast in addition to our Austin headquarters and global delivery center in Surat, India," TransForm's CEO, AsfaqShiliwala.

"This is a significant milestone for ADAPT. We have come a long way from our humble beginnings and being a part of TransForm gives us access to additional capital and support, and the global expansion needed to further strengthen our position as a leader in the engineering services space. Our customers and associates can look forward to more investments in the latest technologies that will help bring their ideas and products to market faster and more efficiently," said Brian Smith, CEO, ADAPT Technology.

ADAPT provides comprehensive engineering and manufacturing services through its state-of-the-art facility in Detroit. The company serves over 160 customers across the globe in the automotive, defence, heavy equipment and consumer products industries. Some of its customers include industry leaders such as three M, General Motors, McDonald's, Toyota, the US Army and Zeiss Group.

"We see this acquisition as just the beginning. We will continue to look at other potential acquisitions that are attractive and present good synergy with respect to our portfolio. We are committed to strengthening our market position and achieving the very aggressive targets we have set for the next five years," added Shiliwala. (ANI-BusinessWireIndia)