SYNOPSIS BUYS SHARES OF HPL COMPANY
By Tamar Minasian

AZG Armenian Daily #185
14/10/2005

Synopsis, which functions in Armenia since last year, has recently
declared that it is going to buy the shares of HPL company paying $
13 million for them. 350 engineers and 150 students work at “Synopsis
Armenia.” HPL company was founded in 1995, in Armenia and was the first
branch among the foreign companies working in Armenia. Richard Goldman,
head of “Synopsis Armenia,” said that they created a very comfortable
atmosphere for the companies dealing with informational technologies.

Hovik Musaelian, executive head of “Synopsis Armenia,” said that it’s
quite a normal phenomenon when a leading company merges with another
one in the market of competition. He emphasized the importance of
this case for Armenia from the aspect of the regional developments.

Synopsis works out technologies that would avert drawbacks in
producing.

Today, the production period lasts 18-20 months. The new approaches
and the experience elaborated and accumulated by HPL will allow
shorten this period.

Rich Goldman hopes that this deal will make the work of “Synopsis”
more effective, as they will use the unique technologies of HPL and
the talented team of specialists. Brain Golden, deputy head of HPL,
expressed hope that Synopsis will become very competitive in the
world and create new jobs in Armenia.

From: Emil Lazarian | Ararat NewsPress