Wednesday, September 8, 2010

CoreObjects Acquired By Indian Firm

Los Angeles-based CoreObjects Software, a provider of software development to both startups and other firms, has been acquired. According to Symphony Service Corp., a provider of software product engineering services based in Bangalore, India, it has acquired CoreObjects and its delivery centers in Bangalore and Pune, India. Financial terms of the buy were not disclosed. Symphony Services said the buy expands its offerings in product development and embedded product development. The company said CoreObjects has 55 active client contracts in the US, Europe, and India. CoreObjects has a deep presence in providing services to Los Angeles startups; the firm has provided its services to such firms as Stamps.com, Xoova, Practice Technologies, and many others, and reportedly has taken warrants and equity stakes in a number of local startups as part of their development deals. CoreObjects has received venture funding from Palomar Ventures.