| Cambridge,
MA – 20 Jul 2007: Cambridge Technology Enterprises, a leading
provider of SOA based solutions and Enterprise Transformation applications
to mid size enterprises and mid size divisions of Global 2000 enterprises,
announced that it has entered into a definitive agreement with of Reilly
& Associates, Inc., a privately held company based in Michigan U.S.A,
to consummate the acquisition for an undisclosed amount. This agreement
is subject to the approval by the shareholders of the company in the ensuing
AGM in September 2007. Universal-Legal, Chennai were the CTE’s legal
advisors to this deal.
Reilly Associates, Inc. is an established Subject Matter
Expert (SME) for Oracle Process Manufacturing implementations for Big
4, Medium and smaller consulting firms with vast experience in working
with mid-sized companies and has a client base of over 60. Reilly Associates
is also a certified Oracle solution partner specializing in the implementation
of Oracles e-business suite in Process Manufacturing Companies.
This acquisition would potentially bring in additional
revenue in the ERP segment to CTE for the current financial year FY 2008,
augment CTE’s SOA migration services portfolio & bring the combined
entity closer to CTE’s vision of being a ‘go-to IT partner
for mid-sized enterprises’. While Reilly & Associates would
enrich CTE with the expertise in Oracle Financials, Customer Relationship
Management (CRM), Enterprise Asset Management (EAM), Oracle Process Manufacturing
(OPM) and Oracle Accelerators, which benefits CTE’s customers, it
also opens up avenues of providing value added SOA migration & global
delivery services to the Reilly’s existing customer base.
Bhaskar Panigrahi, CEO Cambridge Technology Enterprises
said "This acquisition is highly synergistic as it augments our offering
capability to our target customer base, and our SOA competence would help
Reilly & Associates’ customers in becoming more responsive to
the new business demands and changes. I am confident that this association
would be mutually rewarding for both the companies & their customers
and would help us further accelerate our organic growth.”
Daniel Reilly, President Reilly Associates said “This
association gives us the twin advantage of offering more value to our
customers – SOA migration services and the existing Oracle ERP services
by leveraging CTE’s CMMi Level 5 global delivery centers, together
the platform is set for a rapid expansion of the ERP practice for the
combined entity. I look forward to this relationship which would benefit
both the organizations”
About Reilly Associates
Reilly Associates, Inc. is a certified Oracle solution
partner, specializing in Oracle Process Manufacturing and authorized re-seller
of Oracle applications. They are based at Michigan, USA. They have carved
a niche for themselves in implementing Oracle applications for Process
Manufacturing companies since 1994. They have an impressive clientele
list of over 60, in process manufacturing areas like Pharmaceutical &
Biotech, Chemical, Food, Paper & Rolled Goods, Metals and Mining &
Minerals. They have a deep understanding & expertise in Oracle Process
Manufacturing Implementations, Oracle Financials Implementations, Other
Oracle Apps, Remote Database Administration and Custom Development.
For more information, please visit http://www.reilly-associates.com
About Cambridge Technology Enterprises
Cambridge Technology Enterprises (CTE), a thought leader,
innovator, and a leading provider of comprehensive Service Oriented Architecture
(SOA)-based solutions and services, has a focus on building and integrating
Enterprise Transformation applications. CTE defines SOA innovation as
the intersection of business insight and technological invention, and
uses its business-process knowledge and its service offering expertise
to identify new SOA business and technology trends and create revolutionary
solutions. A CMMI Level 5 business innovator, CTE has a proven track record
of On Time and On Budget delivery of high-quality Business Transformation
Solutions that enable enterprises to add value through improved operational
performance, increased revenues and profitability, gain in differentiating
capabilities and visible competitive advantages.
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