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 unparalleled intellectual property that will help it advance client market share within the fast-growing health care sector. A specific example of the IP Symphony Services has gained includes SmartVitals, a product for providing in-patient monitoring and warning systems to Hospital setups.
Both Symphony Services and CoreObjects share a deep commitment to product quality, results-driven R&D and transparency throughout the product development process. 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.
“CoreObjects has served as our primary product development partner for the last 3 years and the team's deep industry knowledge and technology expertise have combined to truly revolutionize our R&D function," said Jeetendra Jangle, VP Engineering, Wellcore. "Now, with its acquisition by Symphony Services, we are looking forward to have access to broader range of specialties and help Wellcore scale.”
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.
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“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. CoreObjects’ world-class capabilities integrated with Symphony Services’ strengths will enable us to offer a comprehensive portfolio of services to our clients worldwide.”
