Cambridge Technology takes smartShift

HYDERABAD, INDIA: Cambridge Technology Enterprises (CTE) has announced that it has entered into a definitive agreement to acquire smartShift GmbH (smartShift), a player in tools-based modernization services for complex IT systems. The acquisition is subject to the approval of shareholders of the company and necessary regulatory clearance. The transaction is expected to close in the first half of 2010.

Founded in 2002 with its headquarters in Mannheim, Germany, smartShift has proprietary and patented technologies automate the migration of applications such as SAP, Oracle, legacy, etc.. The automation enables smartShift to complete projects faster, with higher quality and at substantially lower cost than competing solutions.

This acquisition uniquely positions CTE to take advantage of the fast growing cloud services market, which according to IDC is expected to reach $44.2 billion worldwide by 2013, as told in a press release. With this acquisition, CTE is entering into EU market with a development center in Germany and a number of marquee European reference accounts.

CTE is expanding smartShift's IP to automate the process of cloud-enabling applications. "With the smartShift acquisition, we are expanding our capabilities to help our clients accelerate their migration to the cloud." said, Bhaskar Panigrahi, CEO of CTE. "We will also leverage our remote management service capabilities to manage applications in the cloud thus providing an end- to- end solution to our clients."