Hyderabad, India and Mannheim, Germany November 30, 2009: Cambridge Technology Enterprises (CTE) today announced that it has entered into a definitive agreement to acquire smartShift GmbH (smartShift), a global leader in tools–based modernization services for complex IT systems. The acquisition is subject to the approval of shareholders of the company and necessary regulatory clearance.  The transaction is expected to close in the first half of 2010.

Founded in 2002 with its headquarters in Mannheim, Germany, smartShift is the global leader in tools-based modernization services for complex IT systems.  smartShift’s proprietary and patented technologies automate the migration of applications such as SAP, Oracle, legacy, etc..   The automation enables smartShift to complete projects faster, with higher quality and at substantially lower cost than competing solutions.

This acquisition uniquely positions CTE to take advantage of the fast growing cloud services market, which according to IDC is expected to reach $44.2 billion worldwide by 2013.  With this acquisition, CTE is entering into EU market with a development center in Germany and a number of marquee European reference accounts.

CTE is expanding smartShift’s IP to automate the process of cloud-enabling applications. “With the smartShift acquisition, we are expanding our capabilities to help our clients accelerate their migration to the cloud.” said, Bhaskar Panigrahi, CEO of CTE. “We will also leverage our remote management service capabilities to manage applications in the cloud thus providing an end- to- end solution to our clients.”  

“smartShift has been focused on automating complex migration problems.”  said Stefan Hetges, CEO of smartShift. “We are excited about joining forces with CTE and applying our deep expertise to migration of applications to the cloud.”

About smartShift

smartShift is the leading provider of solutions for tool-based modernization of complex IT systems.  Using smartTools, smartShift’s migration platform, and proprietary methodology, smartShift automates the migration process for a broad array of technology stacks including SAP, Oracle and legacy applications.  smartShift customers are major global organizations such as Deutsche Bank, Bertelsmann, Kimberly-Clark, Mercedes-Benz, CommerzBank and Northrop Grumman.  smartShift’s software and services are distributed through its direct sales force as well as major global IT service providers.   For more information, please visit www.smartShift-group.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 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