Prepress
Cambridge Technology Enterprises Limited to Acquire Protege Software Services
Monday 15. September 2008 - Acquisition to reinforce CTE's ERP capabilities
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.
Headquartered in Woburn, Massachusetts, Protege is an Oracle Certified Partner and authorized reseller of Oracle Applications. The company’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.
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.