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Monday, Novembe 05, 2001
For Immediate Release
For more information contact:
Stéphane P. Des Lauriers
Director, Corporate Communications
Precience, Inc.
Tel: +1 (301) 421-9054 x809
E-mail: stephaned@precience.com
Heidi Vantulden
Bluestone PR, Inc.
Public Relations for Precience, Inc.
Tel: +1 (503) 524-9799
E-mail: heidi@bluestonepr.com
Precience Completes Acquisition of Pakistan-Based EDA Company
Purchase Consolidates Design-for-Supply-Chain Development Team
Burtonsville, Md., November 5, 2001– Precience, Inc., a leading developer of electronic design automation (EDA) design-for-supply-chain solutions, today announced the completion of its acquisition of Technology Solutions, a software development company based in Karachi, Pakistan. The acquisition, finalized on October 8, 2001, consolidates Precience’s EDA development resources and provides the company with permanent access to Technology Solutions’ team of 31 computer science experts.
The origin of the development relationship between the two companies dates back to 1997. “Precience has been fortunate to have had the opportunity to collaborate with Technology Solutions in creating design-for-supply-chain products, including the recently announced PartNavigator 2.0 decision support and integration technology solution,” said Ahmed Khan, president and CEO of Precience, Inc. “This acquisition empowers us with a very talented team of computer science professionals, with backgrounds in electronic engineering, and a deep understanding of the challenges faced by our customers.
Technology Solutions will be integrated into M/s Precience Technologies (Pvt) Ltd., the company’s newly formed Pakistani subsidiary. Muhammad Hanif, the founder of Technology Solutions, will assume the role of president and CEO of Precience Technologies and chief technology officer of Precience, Inc.
After a successful and mutually beneficial collaboration, the next
logical step in our relationship was this consolidation of
resources,” said Hanif. “The acquisition will enable us
to accelerate time-to-market on new and existing products
and services.
PartNavigator® 2.0 software, announced on September 10 (www.precience.com/2001_09_10.asp), is the latest in a series of collaborative design efforts between Precience™ and the former Technology Solutions.
About Precience, Inc.
Precience is a leading worldwide developer of EDA design-for-supply-chain integration technology products including PCBNavigator® 3.0, Obsolescence Manager™, and PartNavigator® 2.0. Precience is a privately held company established in 1995 with corporate headquarters at 4040 Blackburn Lane, Suite 180, Burtonsville, Maryland, 20866. To learn more about Precience and its products, please visit the Precience Web site at
www.precience.com. For further information contact Precience at (301) 421-9054, or via e-mail at
info@precience.com.
Precience, ahead of time, the Precience logo, Design Supply Chain,
PartNavigator, Obsolescence Manager, and PCBNavigator are
trademarks or registered marks of Precience, Inc. All other
trademarks or registered marks are the property of their
respective holders.
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