Cambridge Technology Partners Expands in Australia through Acquisition; Increases Size of Regional Operations by 50% to Capture Opportunities for e-Solutions Offerings.Business/Technology Editors SYDNEY, Australia--(BUSINESS WIRE)--Nov. 7, 2000 Cambridge Technology Partners, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CATP CATP Cambridge Technologies (stock symbol) CATP Coverage Acceptance Test Plan CATP Committee of Adaptation to Technical Process ) (Cambridge), a global e-Solutions provider, today announced the acquisition of OSIX Pty Ltd PTY LTD Propriety Limited (company structure in Australia) . 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 In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. 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 operating company A business that engages in transactions with outsiders. 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 AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $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 NYSE See: New York Stock Exchange : SFE See Sydney Futures Exchange. ) partner company. Cambridge on the Web: http://www.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 (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) 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 (Information Technology Infrastructure Library, www.itil.co.uk) One of the more comprehensive as well as non-proprietary and publicly available sets of guidelines for "best practice" IT services management, owned by the British Office of Government Commerce (OGC). ) and the Capability Maturity Model (CMM (Capability Maturity Model) A process developed by SEI in 1986 to help improve, over time, the application of an organization's supporting software technologies. ) methodologies. Key clients come from the banking and finance, utilities and telecommunications industries. |
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