Mumbai — Aug 29, 2006— Cambridge Technology Enterprises Limited (CTEL), a thought leader and innovator of Business Transformation Solutions and a leading provider of comprehensive SOA-based solutions and services today announced its four pronged growth strategy & plan to consolidate its position further and capitalize on the growth potential of the emerging market opportunities in the area of SOA migration services. The company’s four pronged growth plan includes - selective pursuit of strategic acquisitions, investment in enhancement of Processes, Methodologies and Innovation Toolsets, expansion of its geographic presence in the US markets and enhancement of its global collaboration infrastructure.

Elaborating on the company’s future plans, Mr Bhaskar Panigrahi, CEO, said: “CTEL has crafted its four pronged expansion plan to achieve its medium term goals. The estimated requirement of funds is about Rs 307 Million. Part of the funds have already been tied up and balance Rs 240 Million is proposed to be raised through its proposed IPO.”

“The key investments in India would be to enhance the infrastructure of its Global Delivery center, build an SOA / Middleware competency center, refine its agile programming expertise with matured CMMi Level 5 processes, besides building a reusable services library that would be a key differentiator for the company,” Mr Bhaskar Panigrahi added.

CTEL is a Hyderabad-based CMMi Level 5, Business Innovator with its Innovation center in Cambridge, Massachusetts, US. The company helps enterprises innovate and implement Business Transformation solutions that are built on the emerging technology trends in SOA and harnessing its expertise in Enterprise Middleware, Real-Time Enterprise and Custom Business Solutions development.

CTEL, defines SOA innovation as the intersection of business insight and technological invention. CTE uses its business-process knowledge, its service offering expertise coupled with deep understanding of emerging technologies to identify new SOA business and technology trends and formulate and implement solutions for clients under demanding time constraints.

CTE Process

Through Cambridge Collaborative Delivery™ (CCD™) model that couples iterative Agile programming with Rapid Application Development (RAD) and matured CMMi Level 5 global delivery processes, CTE creates and implements cost-effective end-to-end business transformation solutions on-time and on-budget. CTE’s Clients harness the company’s unique services delivery model to bring a practical approach to their transformational efforts. CTE solutions helps clients identify and enter new markets, improve operational performance, increase revenues and profitability, gain differentiating capabilities and visible competitive advantages.

About CTE’s IPO

CTE plans to come out with an IPO of Rs.240 Million in order to partly fund its project of Rs.307 Million, in line with its four pronged expansion plan which includes investments on strategic acquisitions, expansion and improvement in IT infrastructure, setting up SOA competency centers, creating Intellectual property and reusable components library and enhancing its market presence by investing in regional offices in U.S.A. apart from meeting providing for increased working capital needs in future.

CTEL’s proposed IPO has been graded by CARE and was assigned a ‘CARE IPO Grade 2’. Excerpt from the report by CARE: “ The grading factors in experience of CTEL’s promoters’, competency of senior management team, location advantage, business prospects, matured delivery processes indicated by highest quality certification, track record of high revenue growth and profitable operations. The grading is constrained due to CTEL’s small size of operations, highly competitive nature of IT industry, uncertainties with regard to its acquisition dependent growth strategy, entire dependence on single market, high dependence on channel partners for sourcing business and client concentration.” CARE assigns IPO grades on a scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. ( Source: Grading Rationale Report of CARE, Analyst contact: rajesh.mokashi@careratings.com.)

About SOA

Service-Oriented Architecture (SOA) is the latest step in the evolution of software, aimed at greater simplicity, less effort, and more speed through modularity and simplicity. Over time, this evolution has seen the redefinition of "units of work" within software applications from low-level technical items to elements closer to work understood in a business context: from handling internal demands for storage access and output drivers, then later by transaction monitor and database services (commits and so forth), to the new level of addressing business steps or tasks. As Per Gartner, by 2006, more than 60 percent of the $527 billion IT professional services market will be based on the exploitation of SOA/Web services standards and technologies. By 2008, systems integrators' and software vendors' Web services and SOA-based investments will simplify many aspects of integration, resulting in major software requirements being met by the assembly of components rather than extensive coding. (Source: Simon Hayward, Information Age)


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