Date:13/10/2004 URL: http://www.thehindubusinessline.com/2004/10/13/stories/2004101303260600.htm

Back Shipara becomes 100% subsidiary of HCL

Our Bureau

New Delhi , Oct. 12

HCL Technologies on Tuesday announced the acquisition of balance 23 per cent stake in Shipara Technologies, thus making the Bangalore-based company its wholly owned subsidiary.

Till recently, HCL Technologies held 77 per cent stake in Shipara Technologies, which focuses on high-end engineering and technology areas such as aerospace, embedded systems, engineering services and communication technologies.

HCL Technologies has now bought out the balance stake from Rao Insulating Company.

With this acquisition, it aims to strengthen the company's expertise in the core technologies space, catering to product engineering for aerospace and automotive sectors, an HCL release said here.

Shipara Technologies, assessed at SEI CMM Level 4 and ISO 9001:2000, is currently pursuing CMMi level 5 certification.

In addition, it has also been assessed and certified for AS 9100, the de facto standard for the aerospace sector.