Cambridge Technology Partners announced it has signed an agreement to acquire Ramos & Associates, Inc.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 1, 1996-- Positions Cambridge as leader in enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. market 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 ), a leading international client/server and Internet systems integrator, announced its agreement to acquire Ramos & Associates, Inc., a San Ramon San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a recognized for its leadership in the Enterprise Resource Planning (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) services market, pursuant to an agreement signed on October 31. The company expects the transaction to close by December 2, 1996. The transaction will be completed in a stock-for-stock acquisition in which Cambridge will issue up to 1,175,200 shares for all of the outstanding securities of Ramos. The acquisition will be accounted for under the pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. method and is expected to be non-dilutive. Ramos will operate as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Cambridge, and will be organized as a new strategic business unit responsible for developing and accelerating the ERP component of Cambridge's long term growth strategy. This is a major strategic initiative for Cambridge, positioning it to provide its core services The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. in ERP, one of the fastest growing segments of the IT services market. The merger will combine Ramos' experience in ERP applications deployment, especially in PeopleSoft's suite of Financials, Human Resource Management Systems (HRMS HRMS Human Resource Management System HRMS High Resolution Microwave Survey (SETI, Project Phoenix) HRMS High Resolution Mass Spectroscopy HRMS High Resolution Molecular Spectroscopy HRMS Human Resources Management Specialist ) and other enterprise applications with Cambridge's proven fixed time/fixed price methodology, global infrastructure and established client base. Cambridge will also benefit from Ramos' experience in extending HRMS and Financial system functionality via value-added Internet/Intranet/Web-enablement and workflow automation solutions. Based on research from International Data Corporation, worldwide ERP service revenues are estimated to grow from approximately $60 billion in 1995 to over $100 billion by the year 2000. PeopleSoft, Inc. is among the leading and fastest growing package vendors in this market. As a PeopleSoft implementation partner, Ramos provides Cambridge with the expertise to achieve market leadership, and has consistently been rated in the top tier of PeopleSoft's customer satisfaction surveys. "I am very excited about this announcement because it enhances our ability to deliver strategic IT and business solutions across every functional area of our client organizations," said Jim Sims, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Cambridge Technology Partners. "Adding Ramos' ERP capabilities to our current organization will give us significant mass in one of the biggest and fastest growing segments of the IT services market. We anticipate a significant portion of our business going forward will be driven by strategic business applications in the Internet/Intranet enabled 'virtual value chain' of our clients." Sims continued, "We intend to play a leading role in redefining how solutions are provided in this segment of the market by leveraging our core values: including our fixed time/fixed price model, speed in systems deployment of growth-oriented solutions, behavior-driven methodology, and knowledge transfer." "Today's companies require high-impact, enterprise-wide information solutions that will help them achieve and maintain a competitive edge," said Tim Ramos, President of Ramos & Associates. "The partnership of Cambridge and Ramos will establish a global ERP leadership position for both companies to meet this demand through custom, packaged and value-added solutions that can be deployed rapidly, cost-effectively and strategically." Ramos & Associates was formed in 1991, has offices in San Ramon, Dallas, Islin, NJ, Chicago, and Reading, England, and has approximately 189 employees today. Revenues for 1995 were $11.8 million, and $17.5 million for the first nine months of 1996. Ramos was just recognized by the San Francisco Business Times as the fastest growing privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. in the San Francisco area -- in terms of both revenue and employee size. Some of its clients include Charles Schwab, Quaker Oats, Sunglass Hut, and James Madison University “JMU” redirects here. For the university in Liverpool, England, see Liverpool John Moores University. For the public-policy college at Michigan State University, see . . Founded in 1991, Cambridge Technology Partners is one of the fastest growing companies in the systems integration industry, with a proven track record of developing and deploying client/server distributed applications, a number of which are Internet-based, to more than 500 organizations worldwide. Working within a unique fixed time/fixed price model, Cambridge's systems development expertise also includes package implementation and educational services. After the completion of this acquisition, Cambridge will have 27 offices globally and more than 1,800 employees. -0- Cambridge news on the Web: http://www.ctp.com Ramos news on the Web: http://www.ramosnet.com CONTACT: Cambridge Technology Partners Art Toscanini or Colleen Irish (617) 374-8705 ciris@ctp.com |
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