Symphony bolsters PLM offerings with Proteans buy

by CXOtoday Staff    Jun 03, 2010

Symphony Service is set to acquire Bangalore-based Proteans Software Solutions, a Outsourced Product Development (OPD) firm 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 Bn 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 & CEO, Symphony Services.

Sudhakar Gorti, CEO, Proteans, "We are pleased to integrate our core expertise and capabilities with the industry leader in the OPD space. To a great extent, our product DNA and business model 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".