| Acquisition
to help CTE’s portfolio gain strategic advantage
Bangalore, Tuesday, January 22, 2008: - Cambridge Technology
Enterprises, a global IT services provider and recognized as a leading
provider of SOA based solutions and Enterprise Transformation applications
to mid size enterprises of Global 2000 enterprises, today announced that
it has entered into an acquisition agreement with Q-Soft Systems &
Solutions, a privately held company based at Bangalore, India, for an
undisclosed amount.
This is the third consecutive acquisition in this year for Cambridge Technology
Enterprises including ComCreation and Reilly & Associates.
Incorporated in 1996, Q-Soft provides managed services to its clients
using Oracle technology products and Unix / Linux systems. Head Quartered
at Bangalore, Q-Soft is more than 200 people strong and has presence in
Mumbai and Chennai. An Oracle certified partner, Q-Soft is a leader in
the managed services segment in India catering to large and mid size markets
offering database services, network management services, middle tier management
and custom software development services of ERP solutions.
This acquisition would potentially bring in additional revenue in the
ERP segment to CTE for the current financial year FY 2008, augment CTE’s
service offering in the ERP segment with off shore Oracle services portfolio
& bring the combined entity closer to CTE’s vision of being
a ‘One stop shop for IT services for mid-sized enterprises’.
It would also bring in many strategic advantages to CTE’s portfolio
by enhancing CTE’s customer base notably and provide CTE with an
opportunity to have a strong foot print in the Indian market by cross
selling services and also increase its head count significantly.
Bhaskar Panigrahi, CEO, Cambridge Technology Enterprises said, “India
is a strategically important market for CTE. CTE’s business model
is built on the foundation of customer intimacy and technology innovation.
Q-Soft’s long and strong relationships with their customers and
strong technical competency will enable CTE to add excellent value and
local support to existing and prospective customers. Also help CTE move
up the value chain.” He further added, “CTE looks forward
to continue to build and enhance our SOA competence and offering by cross
selling services. I firmly believe that Q-Soft’s arrival in CTE
group strengthens our commitment to expand and grow in India”.
Harshavardhan C G, Managing Director and Chief Executive
Officer, Q-Soft Systems and Solutions said “This association gives
us the twin advantage of offering more value to our customers. We see
this acquisition to be symbiotic where we can benefit from each others
strengths & become more responsive to the new business demands and
changes.”
About Q-Soft Systems & Solutions:
Incorporated in 1996, Q-Soft provides support services
to its clients using Oracle technology products and Unix / Linux systems.
Head Quartered at Bangalore, Q-Soft is more than 200 people strong and
has presence in Mumbai and Chennai. An Oracle certified partner, Q-Soft
is a leader in the managed services segment in India catering to large
and mid size markets offering database services, system administration,
middle tier management and custom software development services of ERP
solutions. Q-SOFT has been honored with many prestigious awards for its
continuous support and excellent customer rapport by Oracle since inception
such as ‘National Best Partner for the year 1996-97’, ‘Technology
Partner for Oracle for the year 2000-2001’, ‘Partner of The
Year - most Innovative Adoption of New Technology’ in 2004 to name
a few and the most recent being ‘Partner of the Year 2007 - Customer
Centricity’.
For more information, please visit www.qsoftindia.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 the
business challenges. A CMMI Level 5 business innovator, CTE offers the
same level of expertise to IT as it does to product development, business
process outsourcing, and innovation consulting. CTE is a one-stop-shop
for all global service needs. With offices throughout the US and the world,
Cambridge Technology Enterprises focuses on local collaboration and global
execution.
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