Cambridge Technology Partners Expands in Australia through Acquisition; Increases Size of Regional Operations by 50% to Capture Opportunities for e-Solutions Offerings
SYDNEY, Australia--(BUSINESS WIRE)--Nov. 7, 2000--Cambridge Technology Partners, Inc. (NASDAQ:CATP) (Cambridge), a global e-Solutions provider, today announced the acquisition of OSIX Pty Ltd. Terms of the transaction were not disclosed.
The acquisition strengthens Cambridge's position in the Australian marketplace and provides it with a more comprehensive suite of information technology/Internet professional services, or "e-Solutions," to offer clients. Demand for e-Solutions in the region is expected to grow significantly as increasing numbers of businesses and consumers conduct business online. By 2004, predicts Forrester Research, e-Commerce transactions will account for one-sixth ($US207 billion) of all goods and services sold in Australia.
"OSIX really accelerates our strategy of becoming the premier e-Solutions provider in the country," said Rhonda O'Donnell, managing director for Cambridge in Australia. "We're very fortunate to discover an organization with a culture so similar to ours: fast, smart and focused on client needs. We found that and more in OSIX."
The combined companies will employ 112 employees in the region.
Cambridge Technology Partners provides strategic and management consulting and systems integration services to transform its clients into e-Businesses. With 1999 revenues of $628.1 million, Cambridge Technology Partners has over 4,000 employees and 50 offices worldwide.
Since the launch of its Australian operations in 1997, Cambridge has become known for its rapid delivery and fixed-time, fixed-price approach. As part of its strategy to be a global operating company where client projects span geographic boundaries, Cambridge Technology Partners is committed to supporting the growth of its business in Australia and sees this acquisition as another step in its further expansion into Asia Pacific. Cambridge already has offices in Japan and India.
OSIX has a strong market position in Australia based on the provision of project management and information technology infrastructure consulting services to clients in the telecommunications, banking and utilities sectors. Founded in 1991, OSIX has offices in Sydney and Melbourne and 40 employees. In FY2000, the company had professional services revenue of approximately AUD$5.7 million.
About Cambridge Technology Partners
Cambridge Technology Partners provides strategic and management consulting as well as systems integration services to transform its clients into e-Businesses. Working in collaboration with Global 1000 and high-velocity middle market companies, Cambridge combines a deep understanding of New Economy issues with integrated, end-to-end services, and a proven track record of shared risk and rapid, guaranteed delivery. Cambridge generated $628.1 million in revenue in 1999, with $243.3 million from its global e-Business solutions. Cambridge has approximately 4,000 employees and 50 offices worldwide. Cambridge is a Safeguard Scientifics (NYSE: SFE) partner company. Cambridge on the Web: ctp.com.
About OSIX Pty Ltd
OSIX Pty Limited was founded in late 1991 and incorporated on April 1, 1992. Originally its principal activity was to assist clients with difficult Unix and networking problems using mainframe disciplines. From this foundation OSIX developed a reputation for professionalism, expertise and commitment to their clients. OSIX has nearly 40 staff who are predominantly technical specialists and consultants. They specialize in IBM Platform consulting, NT Platform, infrastructure consulting and have a growing business in successfully providing project and program management using methodology which is based on the IT Infrastructure Library (ITIL) and the Capability Maturity Model (CMM) methodologies. Key clients come from the banking and finance, utilities and telecommunications industries.
CONTACT:
General press inquiries, contact:
Hal Thayer
VP, Corporate Marketing
(617) 914-8374
hal.thayer@ctp.com
or
Investment community, contact:
Cambridge Technology Partners
Patrick Mooney
VP, Investor Relations
(617) 914-8502
patrick.mooney@ctp.com
or
Claire Murphy
Assoc. Director of Investor Relations
(617) 914-8862
claire.murphy@ctp.com
KEYWORD: MASSACHUSETTS AUSTRALIA INTERNATIONAL ASIA PACIFIC
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