U.K.-based Imagination Technologies on Thursday announced that it had completed the acquisition of U.S.-headquartered HelloSoft with R&D facilities in India for a consideration of $47 million. The company, which provides multimedia and communication technologies, also unveiled plans to increase the head count at its R & D centres here and Pune.
At a press conference here on Thursday, Imagination Technologies Group CEO Hossain Yassaie said the acquisition was aimed at strengthening the R&D operations in India as also the product portfolio to include VoIP (Voice over Internet Protocol) and Video over IP products, besides wireless connectivity capability. The company was in talks with some chip firms in India to pick up early stakes, he said.
