| Cambridge,
MA - 28 May 2007: Cambridge Technology Enterprises,
a leading provider of SOA based solutions and Enterprise
Transformation applications to mid size enterprises and
mid size divisions of Global 2000 enterprises, announced
the acquisition of ComCreation, Inc., a privately held
company based in Dallas, Texas, U.S.A, and has its global
delivery centre in Bangalore, India for $3.5M(approximately
INR 14 Crores).This acquisition provides CTE an excellent
opportunity to leverage expertise of ComCreation to further
strengthen its SOA competency center and help all their
customers in providing SOA based stable, predictable,
manageable and secure business/strategic solutions in
a highly distributed/dynamically changing business environment.
ComCreation, an ISO 9001:2000 certified company, is
a leading provider of outsourced product development
services to Independent Software Vendors. It offers
services in Mobile Practice, Life Science Practice,
Testing and Managed Services. The company has been growing
rapidly at more than 100% Y on Y.
In addition to bringing product development, managed
services expertise to CTE, the acquisition reinforces
CTE's brand in the extremely competitive IT services
domain by enhancing its modular outsourcing infrastructure,
team strength and additional global delivery centers
in Bangalore.
The acquisition would add many strategic and
valuable advantages to our portfolio of technology and
services including:
a. Addition of Hi-Tech vertical
b. Increase our current fiscal year revenue (April 07
– March 08) by $5M (INR 20 Crores)
c. Bangalore based Global Delivery Centers
Bhaskar Panigrahi, CEO Cambridge Technology Enterprises
quoted "ComCreation acquisition would double our
headcount, strengthen our SOA service offering, solidify
our presence globally, add new verticals and enhance
our customer base. The combined company would make us
closer to our vision to be Go To IT partner in the “Midsize
IT Services Domain.”
Thomas John, CEO ComCreation said “I look forward
to this relationship bringing tremendous Synergy and
benefits to both the organizations. ComCreation and
CTE have been growing exponentially year-on-year. The
combined company expects to grow even more rapidly leveraging
on cross selling opportunities, a strong & committed
management team and tremendous financials resources
that CTEL bring to our relationship. We would be a bigger
player in our target markets and also increase presence
in new verticals”.
About ComCreation: Founded in 2000, a leading provider
of outsourced product development & testing centers
for Independent Software Vendors (ISV’s) with
a vision to help the clients as a trusted partner. ComCreation
is a Delaware Corporation, with its corporate offices
in Dallas, TX & multiple Global delivery centers
in Bangalore, India with a capacity of 120+ employees.
ComCreation sets-up and runs Dedicated Software Delivery
Units for customers that deliver from new product development,
re-engineering, migration, maintenance, implementation
and testing. They help their ISV clients focus on their
industry competency & customers by leveraging team
of experts & global infrastructure enabling ISVs
to deliver software products to their customers rapidly
and in a cost effective manner. They have seen a tremendous
growth in the last few years and have more than 100
% year on year growth.
For more information, please visit www.comcreation.com
About Cambridge Technology Enterprises
Cambridge Technology Enterprises (CTE), a thought leader,
innovator, and a leading provider of comprehensive Service
Oriented Architecture (SOA)-based solutions and services,
has a focus on building and integrating Enterprise Transformation
applications. CTE defines SOA innovation as the intersection
of business insight and technological invention, and
uses its business-process knowledge and its service
offering expertise to identify new SOA business and
technology trends and create revolutionary solutions.
A CMMI Level 5 business innovator, CTE has a proven
track record of On Time and On Budget delivery of high-quality
Business Transformation Solutions that enable enterprises
to add value through improved operational performance,
increased revenues and profitability, gain in differentiating
capabilities and visible competitive advantages. |
