ReliaSoft Acquired by Spectris plc
TUCSON, AZ (January 23, 2015) - ReliaSoft, an industry leader in reliability engineering software and services, has confirmed today that the ownership of ReliaSoft will transfer to Spectris plc where it will be integrated with HBM nCode, a fast growing engineering software business within the Spectris Test and Measurement segment and global leader in providing technology and software products for durability and performance analyses. Established by Pantelis Vassiliou in 1992, and headquartered in Tucson, Arizona, ReliaSoft has become a leading provider of reliability engineering software and solutions to major "blue chip" customers in many industries worldwide including automotive, aerospace, chemical processing, oil and gas, electronics, energy and defense. ReliaSoft has been growing rapidly and has significant opportunities to accelerate its growth because its technology enables manufacturing and processing companies to improve product reliability, enhance their productivity and improve their return on investment. ReliaSoft's success can be attributed to its continued focus on providing innovative, high quality and technologically advanced solutions to its clients.
HBM nCode is a well-respected and long-established supplier of durability software and solutions. This transaction will strengthen HBM nCode's growing engineering software business within Spectris's Test & Measurement segment and will build on the strong brand recognition and reputation of both ReliaSoft and HBM nCode. ReliaSoft will benefit from the investment and global network that will come with being part of HBM nCode and the Spectris organization as it looks to achieve faster growth. Headquartered and listed in the UK, the parent organization Spectris has annual revenues of over $2 billion and employs over 8,000 people in more than 30 countries.
"This is a strategic move for ReliaSoft," said Kyriacos Kyriacou who leads the management team at ReliaSoft. "There are many advantages to becoming part of a global group. The leadership team at HBM nCode has a strong interest in developing and investing in ReliaSoft's technology and its highly talented workforce. Not only will we retain all jobs in Tucson, but we will have the opportunity to accelerate ReliaSoft's growth and expansion into key international markets."