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Electronics Production | November 16, 2007

MindTree Consulting aquires<br>TES-Purple vision

MindTree Consulting Ltd has signed a definitive agreement to acquire 100% of the equity in TES-PV Electronic Solutions Private Limited (“Purple Vision”), the India-based, fully-owned subsidiary of the EMS provider TES Electronic Solutions SA, based in France.
MindTree will acquire Purple Vision in an all-cash deal of $6.55 Million. The transaction will become effective upon completion of certain closing conditions, as is customary in such circumstances. We expect to complete the closing conditions in 4-6 weeks.

Purple Vision is a 150-person subsidiary of TES Electronic Solutions, providing differentiated services in the IC Design area. Founded in 2000, Purple Vision was acquired by TES in 2005. Purple Vision’s customers include eight of the world’s top 10 semiconductor companies and three of the top 10 companies in each of consumer electronics, networking and telecom systems industries.

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