The Hindu Business Line : CTE buys CellExchange

Cambridge Technology Enterprises, a provider of SOA-based solutions and enterprise transformation applications, said that it acquired CellExchange Inc, a Cambridge-based system integrator company, for $15 million in guaranteed cash and performance based earnouts. The acquisition is expected to bring in additional revenue of Rs 90 crore in FY09. It would also help Cambridge Technology (CTE) to further strengthen its expertise in SOA frameworks and rapid application development (RAD), the company said in a statement. CellExchange provides system integration IT solutions for the US Federal and the US Department of Defence (DoD) customers and focuses on human capital management, supply chain management, and information sharing, CTE said.

This is CTE's fourth and largest acquisition in FY08. It acquired ComCreation Inc in the first quarter, Reilly & Associates in the second quarter and Q-Soft Systems & Solutions in the third quarter, it said. - Our Bureau

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