• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad, Feb 4

With three acquisitions already in the fold, Cambridge Technology Solutions (CTE) is evaluating two more potential candidates based in the US and expects to close one of them in February.

The Chief Financial Officer of CTE, Mr Ramesh Reddy, said, “We believe the only way forward for faster growth is through strategic acquisitions that complement our existing services lead business.”

Speaking to Business Line, Mr Reddy said acquisitions would not only help penetrate new markets but also help acquire customers.

The company acquired Q-Soft Systems recently, adding centres in Chennai and Mumbai and has increased its headcount to 521 from 291 in September 30, 2007.

It recorded consolidated total income of Rs 22.30 crore with net profit of Rs 3.36 crore for the third quarter ended December 31, 2007, as against income of Rs 5.74 crore and profit of Rs 1.39 crore.

Given the current run rate, it is poised to achieve Rs 80 crore in revenue as against Rs 23.40 crore last year.

The company added 17 new customers and its base has crossed 100-mark.

More Stories on : Mergers & Acquisitions | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Prithvi Info secures Rs 309-cr BSNL order

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line