Restructure aimed at consolidating operations, reorganizing business development to integrate and realize synergies of the acquisitions

Hyderabad, Wednesday, June 24, 2008: Cambridge Technology Enterprises, a global IT services provider and a leading provider of SOA based solutions and Enterprise Transformation applications to mid size enterprises and mid size business units of Global 2000 enterprises, today announced its first major company-wide restructure since its inception in 1999. Restructure of operations is aimed at consolidating operations, optimizing core delivery operation, and reorganizing sales/business development to sell one-stop-shop solutions to midsize commercial and government enterprises.

Last financial year, CTE witnessed stellar growth driven by aggressive acquisitions and rapid consolidation. During last financial year, CTE completed four acquisitions: ComCreation, Reilly & Associates, Q-Soft Systems & Solutions, and CellExchange. Through aggregation of individual portfolio company services, CTE has been able to realize more business by cross selling and by improving its visibility to corporate executives through its one-stop message. The numbers of new customers have increased substantially with two major multi million contracts wins in life-science, healthcare and chemical segment both in North America and APAC regions.

With future acquisitions in mind, CTE is reorganizing its corporate structure and restructuring its execution model to build a solid platform to realize its aggressive growth plans. Under the new company structure, Cambridge Technology Enterprises Limited will have Bangalore based ComCreation Private limited, Q-Soft Systems & Solutions and Cambridge based CTE, Inc. as its subsidiaries. CTE, Inc. in turn will have ComCreation, Inc., Reilly & Associates and CellExchange, Inc. as its subsidiaries.

Krishna Nangegadda has assumed his role as the President-North America Operations, a newly created post and will head all North America operations. The North America operations will comprise two business units: North America Government (NA-GOV) and North America Commercial Operations (NA-COM). Ravi Joseph, Senior Vice President, Commercial Operations will head NA-COM business unit and will report to Krish.

The newly formed APAC business unit will be headed by Ramesh Reddy, who is currently the Chief Financial Officer for CTE. The current Q-Soft India operation will focus on India business and will fold into APAC business unit.

Bhaskar Panigrahi, CEO and Chairman of Cambridge Technology Enterprises said, “After attaining the critical mass and bigger foot print during last year, it makes sense to have a next generation organization structure to consolidate operations and reorganize business development which would enhance efficiency and create value for all the stake holders. CTE is in a unique position to take the advantage of mid market consolidation and aims to become Rs.1000 Crores revenue company by 2011. ”

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 midsize enterprises meet today’s increased challenges and makes them future ready. 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.

For more information, please visit www.ctepl.com, or e-mail us at info@ctepl.com.