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Symphony Services Acquires Proteans Software Solutions
Palo Alto and Bangalore, June 2, 2010
Deal strengthens strategic foray into small and medium sized ISVs
Symphony Service Corp., the leader in global software product engineering services, today announced that it has entered into an agreement to acquire Proteans Software Solutions, a Bangalore based Outsourced Product Development (OPD) player that provides software engineering services to ISVs, SaaS companies, internet businesses and R&D organizations of global companies.
“Proteans is a perfect fit for Symphony Services. We hope to strengthen our presence in the small to medium ISV’s space which is estimated at $ 25 Bn 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 apart from other areas” said Dr. Pallab Chatterjee, Chairman & CEO, Symphony Services. “The acquisition is a part of our inorganic roadmap. Proteans’ world-class capabilities integrated with Symphony Services strengths in core engineering product development will enable us to offer a comprehensive portfolio by strengthening and adding offerings to our customers”.
Adds Mr. Sudhakar Gorti, Chief Executive Officer, Proteans, “We are pleased to integrate our core expertise and capabilities with a well-known and industry leader in the OPD space. To a great extent our product DNA and business model are in harmony. Being a part of Symphony Services, we look forward to strengthen our excellent track record of having delivered several successful applications and products and our footprint in the global market”.
Click here to download the pdf version of press release published in online edition of CIOL News Report.
Palo Alto and Bangalore, June 2, 2010
Deal strengthens strategic foray into small and medium sized ISVs
Symphony Service Corp., the leader in global software product engineering services, today announced that it has entered into an agreement to acquire Proteans Software Solutions, a Bangalore based Outsourced Product Development (OPD) player that provides software engineering services to ISVs, SaaS companies, internet businesses and R&D organizations of global companies.
“Proteans is a perfect fit for Symphony Services. We hope to strengthen our presence in the small to medium ISV’s space which is estimated at $ 25 Bn 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 apart from other areas” said Dr. Pallab Chatterjee, Chairman & CEO, Symphony Services. “The acquisition is a part of our inorganic roadmap. Proteans’ world-class capabilities integrated with Symphony Services strengths in core engineering product development will enable us to offer a comprehensive portfolio by strengthening and adding offerings to our customers”.
Adds Mr. Sudhakar Gorti, Chief Executive Officer, Proteans, “We are pleased to integrate our core expertise and capabilities with a well-known and industry leader in the OPD space. To a great extent our product DNA and business model are in harmony. Being a part of Symphony Services, we look forward to strengthen our excellent track record of having delivered several successful applications and products and our footprint in the global market”.
Click here to download the pdf version of press release published in online edition of CIOL News Report.