Aspire Systems acquires European software solutions firm Goyello
Indian technology services firm Aspire Systems has acquired Goyello, an agile software solutions firm with offices in Poland and the Netherlands. The deal marks the sixth acquisition for the Chennai-based technology firm over the past five years and the first major one in Europe.
“Goyello, with their extensive software development, project management and IT consulting expertise, will make it possible to serve our European clients better and from a shorter distance and with a better time overlap. The shared vision, strategy and cultural alignment of both companies is a major reason for Aspire and Goyello to join forces”, said Gowri Shankar Subramanian, Chairman and CEO of Aspire Systems.
Founded in 2006 by two Dutchmen – Peter Horsten en Arie de Bruin – Goyello is an IT firm that provides IT consulting, software development and mobile services to clients in Europe and North America. The company operates from Hardinxveld-Giessendam in the Netherlands, where Goyello is headquartered, and Koszaling and Gdansk in Poland, where the firm has two IT delivery centres.
The deal sees Goyello’s 120-strong team join Aspire Systems, which itself has 2.300 employees across North America, Singapore, India and the Middle East. The move is the first major move of Goyello’s European expansion strategy – “With Goyello joining the Aspire family, we will be able to widens our presence in Europe while also tapping into nearshoring advantages by being in Poland”, said Shankar Subramanian.
As it stands, close to 20% of Aspire Systems’ $70 million in revenues are generated from the Western Europe region and the company hopes to increase the share to 30% in the next three years. Globally, Aspire Systems plans to increase its turnover to $85 million to $100 million in a span of 18 months.
Commenting on the deal, Goyello’s Managing Director Peter Horsten said, “The decision to divest 100% of the firm to Aspire Systems builds on strong synergies. We share similar core strengths and values such as deep employee focus, superior client partnerships, emphasis on technology leadership and creating a collaborative work environment.”
The deal builds on six previous acquisitions closed by Aspire Systems in the past five years, including that of Versant Technologies, SRA systems and Applied Development.
