Symphony Services acquires Proteans Software Solutions

NEW DELHI, INDIA: Symphony Service announced that it has entered into an agreement to acquire Proteans Software Solutions, a Bengaluru-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 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,” said Dr Pallab Chatterjee, Chairman and CEO, Symphony Services. “As 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 clients.”

Sudhakar Gorti, CEO, Proteans adds, “We are pleased to integrate our core expertise and capabilities with the industry leader in the OPD space. To a great extent, our product DNAs and business models 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.”