The Hindu Business Line : Cambridge Tech cautious on buys

Hyderabad, Oct. 31 As it decides to dilute 17 per cent by issuing warrants (30 lakh warrants) to raise Rs 30 crore, Cambridge Technology Enterprises has decided to be cautious in making further acquisitions in the backdrop of the economic slowdown.

The company, which has just completed the acquisition of the US-based Protege for $11-million, saw good opportunities as it could bag firms for lesser valuations. It is in talks with five companies – three in the US and two in India.

“We are looking at the likely impact of the slowdown on these companies and their order pipelines,” Mr Ramesh Reddy Y., Chief Financial Officer, said.

Mr Bhaskar Panigrahi, Chief Executive Officer, said CTE was aiming at closing certain gaps in its product offerings.

“In order to offer full spectrum of solutions, we would look at adding capabilities in remote infrastructure management, CRM, business intelligence and ERP support.

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