[October 21, 2008] GlobalLogic Enters Israeli Software Product Development Market With Acquisition of InterObject Tweet VIENNA, VA, Oct 21, 2008 (MARKET WIRE via COMTEX) -- GlobalLogic, Inc., the leader in global product development services, entered the Israeli market and expanded its footprint in Eastern Europe with the acquisition of InterObject, a software product engineering company headquartered in Israel with development centers in Ukraine. InterObject brings deep expertise in embedded software, mobile and multimedia streaming products. "We have been looking for the right company to help us meet the rising demand for software R&D we see in Israel's booming technology sector. InterObject is ideal since it is already well-established in the competitive Israeli market, with a large team of Ukraine-based engineers who are experienced in our areas of specialization, like embedded and mobile product development," said Peter Harrison, chief executive officer of GlobalLogic. The acquisition of InterObject is GlobalLogic's third since January. The company has expanded its product development teams through the acquisitions of Dalian 3 CIS in China and Validio Software in Ukraine (http://www.globallogic.com/Media/pressReleaseDetail.asp?press/72) earlier this year. By acquiring InterObject, GlobalLogic enters the Israeli market and positions itself to become one of the most influential players in the embedded product engineering market. The acquisition will also further strengthen GlobalLogic's presence in Ukraine. Already the largest software employer in Ukraine, the addition of InterObject will give GlobalLogic nearly 1,200 technologists in the country. Eli Schwarzfuchs, chief executive officer of InterObject, said: "We are looking forward to a new and exciting period for InterObject. InterObject has been growing aggressively during the last three years with important clients such as Kodak, Zoran and Samsung. We strongly believe that the strategic joining with GlobalLogic will leverage both companies' ability to provide quality services to our rapidly growing number of clients. GlobalLogic, with its strong management and financial background, will contribute its proven experience in running large scale operations and its field proven methodologies and management practices. They are well known for their InfoWorld award-winning distributed Agile solution, GlobalLogic Velocity(TM). InterObject will contribute its deep experience in embedded and telecommunication systems along with its strong positioning in R&D offshore services in Israel. Together, we will form the number one global product development service in Ukraine." In contrast to many firms that focus on IT services, GlobalLogic specializes in software product R&D for emerging and established technology companies. Its services include everything from market analysis and product conceptualization, engineering to migration, testing and support. The company has received widespread recognition for innovation in software product R&D, including its InfoWorld award-winning platform for distributed Agile development, GlobalLogic Velocity(TM) (http://www.globallogic.com/Media/pressReleaseDetail.asp?press/65), and GlobalLogic Version 1.0(sm), an offering for both early and late stage companies that has helped the company's clients launch innovative and disruptive technologies at major conferences such as Demofall-2008 (http://www.globallogic.com/Media/pressReleaseDetail.asp?press/100). About GlobalLogic The leading specialist in providing global software product development services, GlobalLogic, Inc., partners with emerging and established technology companies to help them bring great software products to market in less time and at less cost. GlobalLogic has developed a unique joint-venture model of partnering with technology companies to create a dedicated global delivery center. The software R&D engineers located in our centers in the U.S., India, China, Ukraine, and Israel serve as virtual extensions of our client's local development teams. In other cases where the client does not have any internal engineering staff, GlobalLogic provides a "fabless" partnership from the start, with GlobalLogic taking ownership of the product engineering, platform and architecture. This allows companies to focus on the other aspects of a successful product launch such as strategy, marketing, customer acquisition, go-to-market challenges and the demands of ever-changing markets. By leveraging our global facilities, world-class engineers and state-of-the-art tools and processes, companies can increase the quality of their software products while dramatically reducing timelines and operating costs -- often by 30 percent or more. GlobalLogic has ongoing partnerships with more than 150 technology companies in product vertical markets that include Consumer, Mobile, Telecom, Healthcare, Enterprise and Embedded. It has completed more than 300 major products in the last 12 months with a better than 95 percent on-time delivery record. Over the last seven years, GlobalLogic has helped its clients release over 1,000 software products. Its clients include innovative technology companies such as Autodesk, Broadsoft, Electronic Arts, Intalio, Motorola, NextPoint, Vertica and Yahoo. GlobalLogic, an Inc. 500 company, has been ranked as one of the 10 best places to work in India by IDC, a Top 3 Technology Employer in Ukraine by Hewitt Associates, and was recognized by InfoWorld for distributed Agile software product development excellence. GlobalLogic is headquartered in Vienna, Virginia and has European headquarters in London, U.K. The company has global delivery centers throughout the U.S., India, Ukraine, China, and Israel and employs thousands of professionals worldwide. Media Contact: Liz Haas Atomic PR for GlobalLogic 415.402.0230 liz (at) atomicpr.com SOURCE: GlobalLogic [ Back To TMCnet.com's Homepage ]