Symphony Services acquires CoreObjects

by CXOtoday Staff    Sep 09, 2010

SymphonyCoreObjectsSymphony Service Corp., a global software product engineering services company, has announced that it has acquired CoreObjects Software, Inc., a Los Angeles-based new product development services provider that specializes in bringing commercially deployable products to market. With CoreObjects’ engineering delivery centers in Bangalore and Pune, India and its team of skilled full-time product engineers with vertical market expertise, Symphony Services will expand its offerings in the product development and embedded product development space.

The acquisition also provides Symphony Services with access to additional re-usable components and frameworks for product development, including CoreObjects’ Smart Objects suite of software assets designed to speed clients’ products to market and create long-term, high-margin recurring revenue. The Smart Objects suite includes Smart Machines, a web-based solution for real-time asset performance management, enabling continuous monitoring and management of industrial equipment; and Smart Vitals, an early response system to improve patient safety and optimize occupancy in hospitals.

CoreObjects specializes in helping emerging and established technology companies achieve go-to-market, budget and specification goals for cutting-edge technology products. With 55 active client contracts in the US, Europe and India, CoreObjects serves clients who are building new products or revamping existing ones. The company’s vertical market expertise includes automotive; industrial automation; semiconductor manufacturing; media and entertainment; health and wellness; financial services; mobile applications; life sciences; and medical devices, networking and clean tech and energy.

The acquisition provides Symphony Services with intellectual property that will help it advance client market share within the fast-growing healthcare sector. A specific example of the IP Symphony Services has gained includes Smart Vitals, a product for providing in-patient monitoring and warning systems to Hospital setups.

Complementing Symphony Services’ focus on Engineering Outcome Certainty, CoreObjects applies Co-Sourcing, a rigorous collaborative sourcing philosophy, methodology and toolset to client projects where evolving design and product requirements demand an extremely integrated and agile approach across distributed teams.

The deal also adds an impressive list of clients to the Symphony Services client portfolio, as well as the opportunity to expand client relationships in high growth market sectors such as financial services, life sciences and clean tech.

“Our commitment to Engineering Outcome Certainty means that we are always looking for opportunities to bring the best resources, expertise and innovative service offerings to our clients,” said Sanjay Dhawan, President & CEO, Symphony Services. “With CoreObjects, we continue to strengthen our core offerings in product development and embedded product development with the addition of high-performance engineering development centers, skilled engineering talent and deep vertical market expertise.”