TransForm Solution Acquires Majority Stake in ADAPT Technology

    AUSTIN, TX, and SURAT, INDIA, November 21, 2016 /24-7PressRelease/ -- TransForm Solution (TransForm), an established BPO company offering custom operations and back office services and solutions to organizations globally, today announce its acquisition of ADAPT Technology (ADAPT), a Detroit-based global engineering services firm. The acquisition of a controlling stake reflects TransForm's aggressive growth plans for the U.S. market and its expansion into the Fortune 500 market.

"We are excited to have ADAPT Technology as part of the TransForm family. We are looking to expand significantly in the U.S. market organically and through M&A initiatives, and this is an important step towards that goal. With this acquisition, we also now have the ability offer a comprehensive suite of services to customers as ADAPT's engineering services complement our BPO offerings well. With this expansion, our U.S. footprint now includes the Northeast in addition to our Austin headquarters and global delivery center in Surat, India," commented Asfaq Shiliwala, TransForm's CEO.

"This is a significant milestone for ADAPT. We have come a long way from our humble beginnings and being a part of TransForm gives us access to additional capital and support, and the global expansion needed to further strengthen our position as a leader in the engineering services space. Our customers and associates can look forward to more investments in the latest technologies that will help bring their ideas and products to market faster and more efficiently," said Brian Smith, CEO, ADAPT Technology.

ADAPT provides comprehensive engineering and manufacturing services through its state-of-the-art facility in Detroit. The company serves over 160 customers across the globe in the automotive, defence, heavy equipment and consumer products industries. Some of its customers include industry leaders such as 3M, General Motors, McDonald's, Toyota, the U.S. Army and Zeiss Group.

"We see this acquisition as just the beginning. We will continue to look at other potential acquisitions that are attractive and present good synergy with respect to our portfolio. We are committed to strengthening our market position and achieving the very aggressive targets we have set for the next 5 years," added Mr. Shiliwala.

About TransForm Solution
TransForm Solution is an established BPO company offering custom operations and back office services and solutions to organizations globally. TransForm's high touch approach to engagements has garnered customer loyalty and 95% customer retention rate for the company. Founded in 2002, TransForm delivers high quality engagements through proven process expertise and a track record of execution excellence. TransForm serves a wide range of industries with a focus on Ecommerce, Education, Logistics and Professional Services (Legal, Real Estate, Recruitment). The company operates a world-class and cost competitive offshore delivery center in India on a 24/7 basis and is ISO 9001 and ISO 27001 certified. For more information, visit www.TransFormSolution.com.

About ADAPT Technology
ADAPT Technology is an engineering and manufacturing services partner to over 160 Automotive, Defense, Heavy Equipment, Aerospace and Consumer Product clients. ADAPT Technology offers complete Engineering, CAD, CAE/FEA, 3D Scanning and Quality Control services from concept through production. The company helps customers break through their design challenges by providing industry leading solutions that speed up their product development cycle. Playing a key role in clients' think tanks, the company optimizes the engineering/design team, process, equipment and location to present the best solution. ADAPT completes the engineering cycle by offering quality control inspection using state of the art equipment, which includes the revolutionary, patented 8tree Quality Inspection System which instantly inspects rivets, fasteners and Class-A surface panels. ADAPT is headquartered in Auburn Hills, Michigan. To learn more visit www.AdaptTechTeam.com.

# # #