Symphony Services acquires Bengaluru-based Proteans Software Solutions

face="Times New Roman, serif"> href="http://dqchannels.ciol.com/content/reselleralert/110051106.asp">Symphony
Service announced that it has entered into an agreement to acquire href="http://www.ciol.com/SMB/SMB/News-Reports/Symphony-Protens-plan-to-strengthen-SMB-presence/137121/0/">
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.

“ face="Times New Roman, serif">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.”

face="Times New Roman, serif">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.”