Tvm: Technopark, Trivandrum based Advanced Energy Software (AES) Solutions today announced that it was acquired by Cronos Group, the largest privately owned IT and utilities consulting company in Germany and Austria with a total turnover of more than € 40 Million in 2011. AES, which has more than 50 SAP consultants now, will ramp up their headcount to 500 in the first year and will set up a new facility in Technopark.
AES Solutions was set up in 2007 and is a leading SAP consultancy house providing services and developing software applications for its clients in India, Europe and America, especially for the industrial and utility sectors. The company partners with major IT companies like Infosys, IBM and Wipro, for its projects. In India, Tata Power and BEST are among their clients.
Dr. Ralf Bauermann, CEO, Cronos Unternehmensberatung GmbH said, “AES Consulting is now a 100% owned subsidiary of Cronos but the company will continue to be known as AES as the brand name is already established the market here. We are looking at long term investments and quality in the growth and development here than quantity. This acquisition will help Cronos in our globalisation strategy.”
Karl-Josef Errens, Founder Director, AES Solutions said, “AES has a history of dealing with German market and this helped Cronos identify our potential. Post acquisition, AES will become the bridgehead of Cronos, in particular for the Asian utilities market. The company will focus on servicing English speaking countries like UK, Middle East and Africa to expand Cronos business.”
Founded in 1991, Cronos Group is based in Muenster, Germany and has a strong partnership with SAP in the utility domain. Cronos provides consulting services and IT solutions to nearly all power sector companies in the German speaking region.
Dr. Joachim Cramer, CEO, Cronos Billing Consulting; Manoj Nirmala Sukumaran, CEO, AES Consulting and Binu Sankar, CEO, GTech were present during the media interaction.
(It may be recalled that Karl-Josef Errens was the first German to establish an IT company, IVL at Technopark in 1995. IVL was later acquired by an US company, Collabera.)
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