The acquisition, finalised by the two companies yesterday in California, is one of the first take-overs of an Indian software firm by a US company, Gopi Mattel, chief executive officer of Again Technologies told PTI here.He, however, did not give details of the acquisition including valuation of the assets. The Chennai-based firm would now be converted into the subsidiary of the US firm and would be known as `Again Technologies (India) Ltd'.

Consequent to the acquisition, the human resources of the Indian subsidiary would be more than doubled and the operations would be streamlined to meet the demand for round-the-clock development efforts, Mattel said.

Software House which has been undertaking projects for Again Technologies for the last three years would now be its primaryworldwide development centre. Again Technologies is founded in 1995 with the help of venture capital support from `Artemis Ventures' and has developed a product named `Compsense' which is used for distribution of variable pay.

Mattel said bringing `Software House' into Again's fold was a critical component in its fast-track development plans. "We are utilising the subsidiary to implement a 24-hour development cycle, with development and preliminary quality assurance in India."