Bangalore, June 2

Symphony Service Corp, provider of global software product engineering services, hopes to boost its offerings in product lifecycle management through the acquisition of Proteans Software Solutions, a Bangalore-based outsourced product development company. Proteans provides software engineering services to independent software vendors, SaaS companies, Internet businesses and R&D organisations of global companies. Dr Pallab Chatterjee, Chairman and CEO, Symphony Services, said, “We continue to strengthen our presence in the small to medium ISV space which is estimated at $25 billion and growing at a rate higher than the rest of the market. The acquisition will bolster our offerings especially in product lifecycle management and total quality. “As part of our inorganic roadmap, Proteans' world-class capabilities integrated with Symphony strengths in core engineering product development will enable us to offer a comprehensive portfolio by strengthening and adding offerings to our clients,” he said. Mr Sudhakar Gorti, Chief Executive Officer, Proteans, said, “Being a part of Symphony Services, we look forward to strengthen our track record of having delivered several successful applications and products and our footprint in the global market.” On employee integration, Symphony Services said, “All the employees of Proteans will be integrated into Symphony Services post this acquisition.” The company, however, did not disclose the financial details of the deal. — Our Bureau

(This article was published in the Business Line print edition dated June 3, 2010)
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