Hyderabad, June 24 (ANI/Business Wire India): Cambridge Technology Enterprises, a global IT services provider and a leading provider of SOA based solutions and Enterprise Transformation applications to mid size enterprises and mid size business units of Global 2000 enterprises, today announced its first major company-wide restructure since its inception in 1999.
Restructure of operations is aimed at consolidating operations, optimizing core delivery operation, and reorganizing sales or business development to sell one-stop-shop solutions to midsize commercial and government enterprises.
Last financial year, CTE witnessed stellar growth driven by aggressive acquisitions and rapid consolidation. During last financial year, CTE completed four acquisitions: ComCreation, Reilly and Associates, Q-Soft Systems and Solutions, and CellExchange.
Through aggregation of individual portfolio company services, CTE has been able to realize more business by cross selling and by improving its visibility to corporate executives through its one-stop message. The numbers of new customers have increased substantially with two major multi million contracts wins in life-science, healthcare and chemical segment both in North America and APAC regions.
With future acquisitions in mind, CTE is reorganizing its corporate structure and restructuring its execution model to build a solid platform to realize its aggressive growth plans. Under the new company structure, Cambridge Technology Enterprises Limited will have Bangalore based ComCreation Private limited, Q-Soft Systems and Solutions and Cambridge based CTE, Inc. as its subsidiaries. CTE, Inc. in turn will have ComCreation, Inc., Reilly and Associates and CellExchange, Inc. as its subsidiaries.
Krishna Nangegadda has assumed his role as the President-North America Operations, a newly created post and will head all North America operations. The North America operations will comprise two business units: North America Government (NA-GOV) and North America Commercial Operations (NA-COM). Ravi Joseph, Senior Vice President, Commercial Operations will head NA-COM business unit and will report to Krish.
The newly formed APAC business unit will be headed by Ramesh Reddy, who is currently the Chief Financial Officer for CTE. The current Q-Soft India operation will focus on India business and will fold into APAC business unit.
Bhaskar Panigrahi, CEO and Chairman of Cambridge Technology Enterprises said, "After attaining the critical mass and bigger foot print during last year, it makes sense to have a next generation organization structure to consolidate operations and reorganize business development which would enhance efficiency and create value for all the stake holders. CTE is in a unique position to take the advantage of mid market consolidation and aims to become Rs.1000 Crores revenue company by 2011".