CTE Press Releases

Cambridge Technology Enterprises Limited to Acquire Protégé Software Services

Acquisition to reinforce CTE’s ERP capabilities

Cambridge, Mass, September 15, 2008- 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 Protégé Software Services (Protégé), 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, Protégé 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 Protégé.

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. Protégé’s significant skills in Oracle ERP and Fusion Middleware technologies blend very well with our ever expanding SOA expertise.”

“Cambridge Technology Enterprises and Protégé 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, Protégé Software Services.

About Protégé Software Services

Established in 1993, Protégé is a leading provider of professional services and solutions for enterprises utilizing Oracle’s suite of products and technologies. As an Oracle Certified Partner, Protégé’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. Through a combination of business knowledge and technical expertise, Protégé is uniquely qualified to assist its clients in the evaluation, implementation, integration, extension, and upgrade of Oracle Applications and Oracle Technologies. Protégé has successfully addressed the business needs of a wide variety of industries including process and discrete manufacturers with over 50 implementations. They are also the authorized reseller of Oracle Applications.

For more information please visit www.protege.com