September 15, 2008
Cambridge Technology Enterprises Limited to Acquire Protege Software Services
CAMBRIDGE, Mass., Sept. 15 /PRNewswire/ -- Cambridge Technology Enterprises Limited (CTE), a global IT services provider and recognized as a leading provider of SOA based solutions and Enterprise Transformation applications to mid-size enterprises and mid-sized divisions of Global 2000 enterprises, announced that it has entered into a definitive agreement with Protege Software Services (Protege), a leading provider of professional services and solutions for enterprises utilizing Oracle's suite of products and technologies, to consummate acquisition. Total consideration includes an upfront component comprising stock and cash and an earn-out component over next three years. This agreement is subjected to the approval of the shareholders of the company and necessary regulatory approval.
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This acquisition will reinforce CTE's Oracle ERP and Oracle Fusion middleware capabilities, augment CTE's positioning of being a 'one-stop-shop' for all IT service needs to mid-market enterprises, strengthen CTE's presence in the New England region in the US and provide cross-selling opportunities with more than 50 customers of Protege.
Bhaskar Panigrahi, CEO Cambridge Technology Enterprises, said, "This is another pearl in our collection of expertise and technologies to service the huge market opportunities emerging from SOA transformation requirements and needs globally. Protege's significant skills in Oracle ERP and Fusion Middleware technologies blend very well with our ever expanding SOA expertise."
"Cambridge Technology Enterprises and Protege bring together one of the most innovative and professional IT services. Our customers will benefit the most by this acquisition as they will have an advantage of the state-of-the-art services at a single-stop-shop for all their IT services needs" Commented Mike Ivers, President, Protege Software Services.
About Protege Software Services
Established in 1993, Protege is a leading provider of professional services and solutions for enterprises utilizing Oracle's suite of products and technologies. As an Oracle Certified Partner, Protege's specialized services are focused on Oracle E-Business Suite, Oracle Fusion Middleware, Oracle Database technologies, Oracle CRM On-Demand and support to small and medium businesses. Through a combination of business knowledge and technical expertise, Protege is uniquely qualified to assist its clients in the evaluation, implementation, integration, extension, and upgrade of Oracle Applications and Oracle Technologies. Protege has successfully addressed the business needs of a wide variety of industries including process and discrete manufacturers with over 50 implementations. They are also the authorized reseller of Oracle Applications.
For more information please visit http://www.protege.com/ About Cambridge Technology Enterprises
Cambridge Technology Enterprises (CTE) is a global services provider dedicated to serving the midsize market of enterprises and the midsize units of Global 2000 enterprises across the spectrum of business industries. Recognized as a thought leader and innovator of comprehensive Service Oriented Architecture (SOA)-based enterprise transformation and integration solutions and services, CTE provides solutions for all business challenges. CTE offers the same level of expertise to IT as it does to product development, business process outsourcing, and innovation consulting. CTE leverages its dedicated pool of talented professionals and its deep partner network and acts as a general contractor to help mid-size enterprises meet today's increased challenges and makes them future ready. CTE is a one-stop-shop for the global services needs of mid-size organizations. With offices throughout the US and the world, Cambridge Technology Enterprises focuses on local collaboration and global execution.
For more information, please visit http://www.ctepl.com/ , or e-mail us at [email protected] .
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Cambridge Technology Enterprises
CONTACT: K N Saritha, Cambridge Technology Enterprises, +91-562-2400-260,[email protected]
Web site: http://www.ctepl.com/http://www.protege.com/