Geometric acquires US-based design division for $25 mn.

Oct. 12--MUMBAI, India -- Mumbai-based software services company Geometric Software Solutions has acquired engineering services division of the US-based Modern Engineering. The total enterprise value is $25m.

The acquired division has recorded revenues of $40m for the current year. ET had reported on Wednesday about Geometric's overseas acquisition.

Geometric plans to fund the acquisition through a combination of internal accruals, funding from ICICI Venture and debt in the US. Around $10m would be used from the preferential placement that the company had ma