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
