Cambridge Tech acquires Georgia-based firm

Hyderabad-based Cambridge Technology Enterprises (CTEL), a provider
of architecture-based solutions, has acquired Reilly and Associates Inc, a Georgia-based company specialising in Oracle applications. The deal size, however, has not been disclosed.

In a release issued to the Bombay Stock Exchange (BSE) on Thursday, the company informed that its board has conditionally approved the acquisition, subject to the approval of its shareholders at the ensuing annual general meeting (AGM).

Cambridge Technology's acquisition of Reilly and Associates Inc comes close on the heels of it acquiring ComCreation, a provider of outsourced product development and testing centres for independent software vendors for $3.5 million (approximately Rs 14 crore) in May this year.

CTEL had raised Rs 24 crore through an IPO earlier this year.